Assa Abloy's latest Chinese acquisition, Pan Pan, manufactures and sells security doors under the brands Pan Pan and Jing Jing.
As the leader in the Chinese security door market, Pan Pan markets two brands: Pan Pan and Jing Jing, with the latter for its high-end market. The company offers a full range of security door packages to satisfy needs from different market segments.
In 2009, Pan Pan achieved US$145 million in sales in 2009 and a production capacity of 2.4 million sets of fire, antitheft, armored, corrosion-proof and high standard security doors.
Pan Pan holds more than 100 patents, with more in the application process and has a total of seven manufacturing sites spreading across China. Four major sites are situated in Yingkou and Langfang at the Northeast, Changsha at the Central and Chengdu at Southwest China while the rest are located at Wuxi, Foshan and Chengzhou.
Jim Heng Lee, GM of APAC Door Group, said Pan Pan fits into the Group and goes in line with APAC division's long-term strategy. The acquisition strengthens APAC Door Group's position in the China market, while its strong manufacturing base provides crucial support to the market growth and penetration.
"Pan Pan has a strong market influence nationwide in China and will lead the trend in door opening solutions together with the comprehensive Assa Abloy offerings," Lee said. "Its extensive network not only provides us with distribution opportunities but also comprehensive market intelligence for strategy formulation."
"The APAC region has been making a speedy come back from the global finance crisis," Lee continued." In China, the door market is heavily influenced by property policy from the central government, local door requirements and standards. With its strong economy, rapid urbanization together with our products and networks, I am very positive about the door market growth in China."