Gunnebo establishes sales company in Korea though acquisition of turnstile-dealer

Today Gunnebo Security Group has signed an agreement with the owner of ATG
Entrance Corporation, distributor of Gunnebo turnstile product range into the
South Korean market, to acquire all shares in the company.
ATG Entrance Corporation has an annual turnover of some 4 MEUR and 13 employees
in its sales office in Seoul. The company has a solid customer base with leading
South Korean corporations as LG, Samsung, Hyundai and the government of South
Korea. The company has been the distributor of Gunnebo’s turnstile product range
into the South Korean market for ten years. Today, the company holds 70 per cent
of the South Korean market for turnstiles.

“South Korea is one of the advanced economies in Asia and a very interesting
market for Gunnebo”, says Gunnebo’s President and CEO Per Borgvall. “The
acquisition of ATG Entrance Corporation is very much in line with Gunnebo’s
strategic agenda to move the point of gravity to markets outside Europe. ATG is
the South Korean market leader in turnstiles with a strong existing customer
base. We also see ATG as a good platform to introduce other offerings from
Gunnebo into the South Korean market as well as to surrounding countries”.

GUNNEBO AB (publ)
Group Communications

For further information, please contact:

Per Borgvall, President & CEO Gunnebo AB, tel. +46 10 2095 000, or
Tomas Wängberg, SVP M&A, tel. +46 10 2095 000, or
Karin Wallström, Communication & IR Director Gunnebo AB, tel. +46 10 2095 026,
or e-mail karin.wallstrom@gunnebo.com

www.gunnebogroup.com
The Gunnebo Security Group provides efficient and innovative security solutions
to customers around the globe. It employs 5 700 people in 32 countries across
Europe, Asia, Africa, Australia and Americas, and has a turnover of €580m.
Gunnebo focuses its global offering on Bank Security & Cash Handling, Secure
Storage, Global Services and Entrance Control.

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