ASSA ABLOY has acquired the majority stake in agta record

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Today, ASSA ABLOY completed the acquisition for the majority stake in agta record, a world leading manufacturers of automatic door systems.

The record group was founded in 1953 and has more than 2,600 employees worldwide. The headquarters are located in Fehraltorf, Switzerland.

"I look forward to finally welcoming the record group and all of its employees into the ASSA ABLOY Group. I am convinced ASSA ABLOY will be a good home for record, which is a strategic addition to the Group and will bring important competence, products and services. I am also glad that the divested businesses, with its employees and customers, will be in good hands and I wish them future success," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Following a long acquisition journey we are happy to be near the end of the process. The record group brings a well-known brand, a strong culture, high quality products and a very strong workforce and management. We can now turn our focus to the many business opportunities this acquisition brings for our employees and customers" says Christopher Norbye, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

ASSA ABLOY now owns approximately 93% of the share capital and voting rights of agta record, and will launch a public tender offer for the remaining outstanding shares of agta record.

For further information about the record group, please visit www.record.group

For more information about this acquisition, please contact ASSA ABLOY Group Communications Director Christiane.Belfrage@assaabloy.com