09/04/2011
Assa Abloy sells Cardo Flow Solutions
Stockholm, Sweden
At the announcement of the public offer for Cardo on December 13, 2010, Assa Abloy communicated its intention to consolidate Cardo Entrance Solutions in Assa Abloy's Entrance Systems division and to sell the other businesses, i.e. Cardo Flow Solutions and Lorentzen & Wettre, that do not long term fit Assa Abloy's operations.
The transaction is expected to close during the second half of 2011 and is subject to regulatory approvals.