Baodean is a leading supplier of anti-theft door locks and cylinders in China. Today the company leads the segment of high security anti-theft door locks and cylinders market in China and has developed an extensive support and service network.

"China is a strategically important market for Assa Abloy. The acquisition of Baodean is another important step for market leadership and rapid sales growth in China" says Johan Molin, president and CEO for the Assa Abloy Group.

Baodean is located in the Zhejiang region (south of Shanghai).

Turnover is expected to reach 300 MSEK in 2007 and the company has 1,370 employees. The company will be consolidated during the third quarter of 2007.

Assa Abloy expects the acquisition to be EPS accretive in 2007. The acquisition is subject to regulatory approval.