STOCKHOLM, July 13, 2018 /PRNewswire/ -- ASSA ABLOY has signed an agreement to acquire Planet GDZ, a leading supplier of door drop down seals and finger protection covers, based in Switzerland.

"I am very pleased to welcome Planet GDZ and their employees into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions," says Nico Delvaux, President and CEO of ASSA ABLOY. "Planet GDZ stands for innovative drop down seals and finger protection for all types of doors and will fill in a gap in our product portfolio in the important DACH (Germany, Austria and Switzerland) markets and beyond, making ASSA ABLOY even more relevant to our current and future customers."

Planet GDZ was established in 1945 and has some 55 employees. The head office and factory is located in Zürich, Switzerland.

Sales for 2018 are expected to reach some CHF 18 million (approx. SEK 160 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.

The acquisition is conditional upon regulatory approval and is expected to close during the third quarter of 2018.

For more information, please contact:

Nico Delvaux
President and CEO
tel. no: +46-8-506-485-82

Carolina Dybeck Happe
CFO and Executive Vice President
tel. no: +46-8-506-485-72

About ASSA ABLOY

ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 47,500 employees, operations in more than 70 countries and sales of SEK 76 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.

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SOURCE ASSA ABLOY