(See the ASSA ABLOY press release) News of the acquisition, originally released on October 28, 2011, has important implications for Skåne-based ASSA ABLOY Entrance Systems.
“This acquisition is another strategic step in our expansion into the Entrance Automation market and reinforces our leadership position, making it a very exciting time for ASSA ABLOY Entrance Systems,” says President and CEO Juan Vargues, who also serves as Executive Vice President of ASSA ABLOY.
Albany Door Systems is one of the global leaders in high-speed industrial doors for applications like industrial and logistical fast access-, fast specialty- and secure access doors. In addition to an extensive product portfolio, Albany has a large direct service offer in its core markets.
The newly acquired company has approximately 700 employees and sales are expected to reach USD 185 M (SEK 1,300 M) in 2012 with an EBIT margin of around 8%. Its operations have been consolidated into ASSA ABLOY Entrance Systems as of January 11, 2012, and integration will start immediately.
“I am delighted to welcome the employees of Albany Door Systems to ASSA ABLOY Entrance Systems,” says Juan Vargues. “Their know-how is an excellent fit with our industrial door operation, key accounts and service offerings. Albany's global reach and strong product range are powerful additions to our current offering in entrance automation.”