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Assa Abloy Sells French Elevator Maintenance Business to Kone

By Dominic Chopping


STOCKHOLM--Assa Abloy has sold its PACA Ascenseurs elevator maintenance business in France to Kone.

The Swedish lock maker said PACA was part of its acquisition of Agta Record in 2020 and it had sales in 2022 of around 30 million euros ($32.6 million).

"In line with our strategy, we continue to focus on our core business portfolio," said Massimo Grassi, head of Assa Abloy's entrance systems division. "We have found a good home for the PACA business, which will receive full attention from its new owners to support further development."

Financial terms weren't disclosed but Assa Abloy said the transaction will have a positive effect on its operating margin.


Write to Dominic Chopping at


(END) Dow Jones Newswires

February 02, 2024 07:50 ET (12:50 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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