STOCKHOLM, Sweden, June 10, 2003 (PRIMEZONE) -- ASSA ABLOY (Other OTC:ASAZF):
- The company develops, manufactures and markets transponders for access control cards
- The acquired business sales amounted to SEK 73 M in 2002
ASSA ABLOY has entered into an agreement to acquire Metget AB. The acquisition strengthens ASSA ABLOY Identification Technology Group's card operations in the European market and provides considerable synergies.
Metget is one of the leading companies in the expanding market of Radio Frequency Identification (RFID) products and solutions. Founded in 1995, Metget has been growing at an average rate of 60% annually. The Company is based in Ronneby, Sweden with offices in Paris, France and Columbus, Ohio, U.S.A. and employs 45 people.
Metget's products are built utilizing highly efficient and automated production processes. Several different transponders, silicon chip, antenna design and packaging are available in both low and high frequency ranges including Contactless Smart Cards. These options allow customers in the market sectors of access control cards, ID cards, public transportation cards, animal ID and industrial logistics to purchase customized products for their specific applications.
The Company's sales in 2002 amounted to SEK 73 million. The acquisition of Metget will be EPS neutral during 2003 and positive from 2004. The transaction will be closed in the next few weeks.
Further information can be obtained from Bo Dankis, President and CEO, tel: + 46 8 506 485 42 or 46 70 394 85 42 Goran Jansson, Chief Financial Officer, tel: +46 8 506 485 72 or +46 70 698 85 72 Martin Hamner, Director of Investor Relations and Group Controller, tel: + 46 8 506 485 79
ASSA ABLOY AB (publ) Box 70340, SE 107 23 Stockholm Tel: +46 8 506 485 00, Fax: + 46 8 506 485 85 www.assaabloy.com
The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions dedicated to satisfying end-user needs for security, safety and convenience. The Group has about 30,000 employees and annual sales of approximately EUR 3 billion.
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