Business Services Industry
Sweden's ASSA ABLOY acquires US door hardware company Rockwood Manufacturing Company
Nordic Business Report, June 25, 2008
NORDIC BUSINESS REPORT-25 June 2008-Sweden's ASSA ABLOY acquires US door hardware company Rockwood Manufacturing Company(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish locking solutions group ASSA ABLOY (OMX Stockholm: ASSA B) said on Wednesday (25 June) that it has acquired the US company Rockwood Manufacturing Company.
Rockwood Manufacturing Company, based in Rockwood, Pennsylvania, manufactures standard and custom decorative and speciality door hardware. The company has 150 employees and is expected to achieve sales of USD48m in 2008.
"I am very pleased that Rockwood is joining the ASSA ABLOY Group and with the addition we take another important step in our strategy to provide total door solutions on the American non-residential market," commented Johan Molin, president and CEO of ASSA ABLOY.
ASSA ABLOY, headquartered in Stockholm, Sweden, is a leading locking solutions manufacturer operating in 40 countries. The company has 32,300 employees and reported sales of SEK33.55bn in 2007.
One British pound (GBP) is worth approximately 11.90 Swedish kronor (SEK).
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