Hugin/ASSA ABLOY has acquired 20% of Copiax, a leading Swedish locks and security distributor

ASSA ABLOY has acquired 20% of the shares in Copiax AB from Verdane Capital, a financial investor. With this acquisition ASSA ABLOY now owns close to 31% of the capital.

Copiax is a Swedish wholesaler of security product focusing on locksmith, security installers and builders merchants. The company operates with some 45 employees from the head office in Stockholm and is expected to reach a turnover exceeding SEK 400 M in 2008.

ASSA ABLOY is in a constructive dialog with the board of directors in Copiax AB regarding a bid on the remaining shares. An acquisition of Copiax has a strong industrial rationale by bringing efficiencies and value-added services to the supply chain between ASSA ABLOY and other producers and the end customer.

For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72

ASSA ABLOY may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 08.30 CET on 15 February.

Press release (PDF)
http://hugin.info/1014/R/1192103/240613.pdf

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The issuer is solely responsible for the content of this announcement.

This release was published on openPR.