Assa Abloy Buys US High-Security Door Manufacturer
Provided by
Dow Jones
By Dominic Chopping
STOCKHOLM--Assa Abloy said Wednesday it has acquired Securitech Group, a U.S. manufacturer of high-security mechanical and electronic door-hardware products.
Securitech was established in 1983 and has around 50 employees. Its main office and factory are located in Queens, New York.
Securitech's sales amounted to around $16 million in 2022 and the acquisition will be accretive to earnings per share from the start, Assa Abloy said.
Financial details weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 04, 2023 05:31 ET (09:31 GMT)
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