Nabtesco acquired the Automatic Door Business of Kaba Holding of Switzerland, in the form of shares purchase of Kaba Gilgen, and concluded the share purchase agreement.
The Automatic Door Business of Kaba has a long business history in Europe, under the esteemed brand of "Gilgen", "Kaba" and/or "Kaba Gilgen" and also is one of the largest players in the Platform Door Business in Europe, U.S., and East Asia including China.
Nabtesco, primarily under "NABCO" brand, is engaged in the automatic doors business in Japan, U.S. and China, and ranks as one of the top manufacturers in the world. Nabtesco is also developing platform door business in Japan and Asian countries. Through the subject acquisition of Kaba's automatic door business, Nabtesco will further enhance its market position by adding European market to its coverage area.
2. Business Profile of Kaba Gilgen
(1) Corporate Name Kaba Gilgen AG
(2) Head Office Freiburgstrasse 34 CH-3150 Schwarzenburg, Switzerland
(3) Representative CEO Jakob Gilgen
(4) Business Sale and manufacture of automatic door for buildings, platform screen door, mobile partition, mobile gates and so on
(5) Share capital US$2 million
(6) Establishment 1961
(7) Major Shareholders Kaba Holding (100 percent)
(8) Total Equity FY08/09 $63 million, FY09/10 $65 million
(9) Total Assets FY08/09 $256 million, FY09/10 $267 million
(10) Sales * FY08/09 $190 million, FY09/10 $190 million
(11) EBIT * FY08/09 $11.0 million, FY09/10 $18.0 million
(12) Number of Employees * 829
* Figures for Door Automation segment of Kaba Holding
3. Business Profile of Kaba Holding
(1) Corporate Name Kaba Holding
(2) Head Office Hofwisenstrasse 24, 8153 Rümlang, Switzerland
(3) Representative Ulrich Graf, Chairman of the Board
Rudolf Weber, CEO
(4) Business Sale and manufacture of Security equipment such as access control system and security gates, automatic door for buildings, platform screen door, key cylinders and locks
(5) Share Capital $0.4 million
(6) Establishment 1862
(7) Total Equity $395 million
(8) Total Assets * more than $1 billion
(9) Major Shareholders
Karin Forrer 5.2 percent
Ulrich Bremi 5.1 percent
Allianz SE 5.0 percent