ASSA ABLOY strengthens U.S. presence with acquisition of Securitech Group Inc.
NORDIC BUSINESS REPORT-October 4, 2023-ASSA ABLOY strengthens U.S. presence with acquisition of Securitech Group Inc.
(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk
Access security and solutions company ASSA ABLOY (STO:ASSA-B) announced on Wednesday that it has successfully completed the acquisition of Securitech Group Inc., a U.S.-based manufacturer specializing in high-security mechanical and electronic door hardware products. Established in 1983, Securitech boasts a dedicated workforce of approximately 50 employees, operating from their primary facilities situated in Maspeth, Queens, New York.
In 2022, Securitech recorded robust sales totaling approximately USD16m (equivalent to roughly SEK160m), accompanied by a commendable EBIT margin. Notably, this strategic acquisition is poised to contribute positively...
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