ASSA ABLOY acquires Amecor in South Africa

Rhea-AI Summary

ASSA ABLOY has announced the acquisition of Amecor (Pty) Ltd, a South African manufacturer of security communication equipment, to strengthen its position in the South African security market. The acquisition is part of the company's strategy to expand its presence in the region and leverage synergies with its electronic security solutions business. Amecor, with a 30-year history, is expected to enhance ASSA ABLOY's commitment to the South African and Sub-Saharan markets.

STOCKHOLM, Jan. 23, 2024 /PRNewswire/ -- ASSA ABLOY has signed an agreement to acquire Amecor (Pty) Ltd, a South African manufacturer of security communication equipment in the South African security market.

"I am very pleased to welcome Amecor into the ASSA ABLOY Group. This constitutes a next step in our strategy to further strengthen our position in this important market," says Nico Delvaux, President and CEO of ASSA ABLOY.

"The Amecor team has a 30-year history in the South African security sector with a suite of reliable and leading products in the alarm segment. Amecor will reinforce our long-term commitment to the South African and Sub-Saharan markets and there are numerous synergies with our electronic security solutions business, that will add great benefit to our customers," says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division.

Amecor was established in 1994 and has some 120 employees. The main office and factory are located in Johannesburg, South Africa.  

Sales for 2022 amounted to about MZAR 270 (approx. MSEK 170) with a strong EBIT-margin. The acquisition will be accretive to EPS from the start.

The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the second quarter of 2024.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72              
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail:
bjorn.tibell@assaabloy.com 

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

The following files are available for download:

https://mb.cision.com/Main/7333/3913599/2555324.pdf	Press release (PDF)
https://news.cision.com/assa-abloy/i/logo-on-facade2,c3259682	logo on facade2

 

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-amecor-in-south-africa-302041572.html

SOURCE ASSA ABLOY

FAQ

What company is acquiring Amecor (Pty) Ltd?

ASSA ABLOY

What type of products does Amecor manufacture?

Security communication equipment

Where is Amecor (Pty) Ltd located?

Johannesburg, South Africa

How many employees does Amecor have?

Approximately 120

What are the sales for Amecor in 2022?

Data not provided in the PR