05/12/2007
Assa Abloy acquires Powershield Doors
Stockholm, Sweden
Assa Abloy has acquired Powershield Doors, a manufacturer of high security steel doors. The company is based in Northern Ireland and it employs 90 people.
Powershield Doors designs, manufactures and installs customised fire resistant, personnel access and high security steel doors. The doors are installed in commercial, industrial and public sector applications.
"Powershield is an exciting addition to the group. Through this acquisition, the EMEA Division reinforces its position as the leader in door-opening solutions. Powershield adds to our specification strength, as it would allow us to offer a complete product range, including locks, hardware, electomechanics and high security doors" says Tzachi Wiesenfeld, head of the EMEA division and execitove vice president of the Assa Abloy Group.
Powershield is expected to reach a turnover of GBP 10M in 2008. Powershield will be consolidated during the beginning of December and this acquisition is expected to be EPS accretive from the start.
Global
