STOCKHOLM, Sweden, April 3, 2002 (PRIMEZONE) -- ASSA ABLOY has acquired INITIAL - the local distributor of ABLOY in France. INITIAL specializes in electromechanical locking solutions and has been ABLOY's distributor for many years. The company has sales of EUR 3.3 M and shows good growth and profitability.
The company will be renamed ABLOY France and will continue to serve their customers and develop their business based on the ABLOY product program.
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.
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