International. ASSA ABLOY acquired Door Systems, a distributor of commercial doors, residential sectional doors, high-speed doors and coupling solutions, based in Chicago.
"I am very pleased that Door Systems is joining the ASSA ABLOY Group. I appreciate this addition that further reinforces ASSA ABLOY's leadership in ticket automation, where our sales have increased from SEK 3 billion (US$342,870,000) in 2008 to SEK 22 billion (US$2,514,380,000) in 2017," says Nico. Delvaux, President and CEO of ASSA ABLOY.
"Door Systems has a proud history and a talented workforce. Their know-how is a good addition to the ASSA ABLOY Entrance Systems team. I look forward to welcoming our new colleagues and together continue to strengthen our commercial doors and coupling solutions," says Mogens Jensen, Executive Vice President of ASSA ABLOY and Head of the Entrance Systems Division.
Door Systems was established in 1954 and has about 100 employees. The company is headquartered in Chicago, Illinois.
Sales for 2018 are expected to reach about US$ 27 million (approximately SEK 230 million) with a good EBIT margin. The acquisition will be cumulative for EPS from the outset.
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