Assa Abloy

Assa Abloy AB
Publicly traded Aktiebolag
Traded as Nasdaq Stockholm: ASSA B
Industry Manufacturing and services
Founded 1994 (1994) [1]
Headquarters Stockholm, Sweden
Key people
 Lars Renström (Chairman), Nico Delvaux (President and CEO)
Products Locks, automatic and security doors
Revenue SEK 76.137 billion (2017) [2]
SEK 12.341 billion (2017) [2]
SEK 8.635 billion (2017) [2]
Total assets SEK 99.444 billion (2017) [3]
Total equity SEK 50.657 billion (2017) [3]
Number of employees
 47,426 (2017) [3]
Website assaabloy.com

The Assa Abloy Group is a Swedish lock manufacturer, and is the world's largest lock manufacturer by sales volume.[4] Assa Abloy was formed in 1994, when Assa AB was separated from Swedish security firm Securitas AB. Shortly thereafter, the Finnish high security lock manufacturer Abloy Oy (a subsidiary of the Finnish company Wärtsilä) was acquired.

The company was introduced to the Stockholm Stock Exchange later the same year. Assa Abloy has since made over 150 acquisitions.[5] A few of these are Yale lock, Sargent Manufacturing, and the high security lock firms of Medeco in the United States, Mul-T-Lock in Israel, Fichet-Bauche in France, and VingCard Elsafe International in Norway. Its two largest shareholders[6] are Latour and Melker Schörling AB.

Name

Assa Abloy was founded as the merger of the two companies Assa and Abloy in 1994. ASSA stands for August Stenman Stenman August.[7][8] The name Abloy comes from a contraction of the Swedish Finnish bilingual name Ab Låsfabriken Lukkotehdas Oy, meaning literally Ltd. Lock Factory Lock Factory Ltd. (first Ltd. and Låsfabriken from Swedish, last Ltd. and Lukkotehdas from Finnish).

History

Founding, growth and development

Emil Henriksson, the founder of Abloy, invented the disc tumbler lock mechanism in 1907, and Assa Abloy continues to produce an extensive line of these high security locks with the brand Abloy.[9] The acquisition of Essex Industries in January 1996 positioned Assa in the security market of the United States, with the brands Sargent, McKinney, and the Curries/Graham Door Group.[10]

Assa Abloy was formed in 1994, when Assa AB was detached from Swedish security firm Securitas AB. Shortly thereafter, the Finnish high security lock manufacturer Abloy Oy (a subsidiary of the Finnish company Wärtsilä) was acquired. The company was introduced to the Stockholm stock exchange later the same year.[5] Since 1995, Assa Abloy has made over 150 acquisitions.[5]

A few of these are Yale lock, Sargent and the high security lock firms of Medeco in the United States, Mul-T-Lock in Israel, Fichet-Bauche in France, and VingCard Elsafe International in Norway. Its two largest shareholders[6] are Latour and Melker Schörling AB. Assa Abloy fired 1,800 employees and closed fifteen units in 2009.[11] International pressure forced Assa Abloy to relocate from an Israeli settlement in the occupied West Bank to within pre 1976 Israeli territory.[12] Revenue in 2014 was SEK 56,843 million.[13]

Overview

Divisions

Assa Abloy has five divisions: EMEA (operates in Europe, the Middle East and Africa), Americas (operates in North and South America), APAC (operates in Asia and Oceania), Global Technologies and Entrance Systems.

CEOs

Assa Abloy has had the following Presidents and CEOs:

  • 1994–2003: Carl-Henric Svanberg
  • 2003–2005: Bo Dankis
  • 2005–2018: Johan Molin
  • 2018–present: Nico Delvaux

Product categories

Source:[14]

  • Mechanical locks
  • Electromechanical and electronic locks
  • Padlocks
  • Access control systems
  • Mobile keys
  • Automatic doors
  • Doors closers
  • Exit devices and panic exit devices
  • Hotel locks
  • Hotel Energy management systems
  • Safes
  • Security doors
  • Intelligent lockers
  • Key management systems

Competitors

Assa Abloy has five main competitors in its segment: Allegion (Republic of Ireland), Stanley Black & Decker (United States), Dormakaba (Switzerland), Hager (United States) and Hörmann (Germany). All are strong locally on their home markets, and also have an international presence. The Asian market holds many smaller competitors, none of which holds a dominant market share.[15]

Brands and marketing

Currently owned

Ongoing acquisitions

In May 1999, the acquisition of Effeff Fritz Fuss[16] in Germany enabled Assa Abloy to sell electro-mechanical locks in the German market. Assa Abloy also acquired Fichet[17] in France, a manufacturer of high security locks. Assa Abloy doubled in size in 2000 when it bought the global lock group Yale Intruder Security.[18] In the same year, Assa Abloy acquired HID,[19] a proximity identification access controls company. The acquisition added electronic identification to the Assa Abloy’s product portfolio. In April 2001, the company completed its purchase of Lockwood in Australia.[20]

In April 2002, Besam,[21] a Swedish automatic door solutions company was acquired. Fargo Electronics,[22] a company developing systems for safe issuing of ID cards, including card printers, peripheral equipment and software, was bought in 2006. In August 2007, this came the acquisitions of Baodean,[23] manufacturer of high security locks in China, and iRevo,[24] supplier of digital door locks in Korea. In 2008, 18 companies were acquired, for example ShenFei in China. In July 2009 ,the Italian door automation manufacturer, Ditec,[25] was bought. Another major acquisition was made in 2011, with the purchase of the Crawford (Cardo Group).[26] Flexiforce was acquired the same year.

A number of purchases followed in 2012. In the United States, 4Front,[27] a supplier of docking system solutions, Frameworks Manufacturing Inc., a manufacturer of interior aluminum frames and doors, and Albany Door Systems,[28] a maker of high speed industrial door solutions. In China, Sanhe Metal, a fire and security door manufacturer, and Shandong Guoqiang Hardware, a maker of window hardware products, were also acquired.

In the United Kingdom, Assa Abloy bought Securistyle Group Holdings Limited and Traka, and in Canada, Helton. In the same year, the company launched Seos, a platform that allows near field communication (NFC) mobile phones to be used to replace mechanical keys and access cards in homes, hotels, offices, hospitals, universities and commercial buildings.[29]

In September 2013, Polish Mercor SA,[30] a fire and security door manufacturer was bought, and in the United States, Ameristar,[31] a manufacturer of industrial and high security fencing and gates, and Amarr,[32] a sectional doors supplier, were taken over. In January 2014, American companies IdenTrust,[33] active in digital authentication solutions, and Lumidigm,[34] a biometric identification solutions provider, were acquired.

In August 2015, Assa Abloy made a number of further takeovers. MSL in Switzerland, a manufacturer of innovative locks,[35] was purchased, as well as US Quantum Secure, a provider of solutions to manage identities and meet compliance requirements in highly regulated industries.[36] Malaysian lock and hardware company, Teamware, was taken over,[37] and in Europe, L-Door, a manufacturer of sectional doors in Belgium, was acquired.[38] Finnish firm, Flexim, a security systems provider and locksmith[39] was also bought, and in the Middle East, the Prometal Group, a manufacturer of steel and wooden security doors in the UAE,[40] was acquired.

Co operation with colleges and universities

The company is a Corporate Partner in the Stockholm School of Economics partner program for companies that contribute financially to the college and works closely with regard to research and education.[41] In October 2015, Assa Abloy joined as partner to KTH Royal Institute of Technology’s Things, a start up hub for companies in the area The Internet of Things.[42]

Awards

In 2013, Assa Abloy was ranked #78 on Forbes’ “The World’s Most Innovative Companies” list, and in 2014 as #93.[43]

See also

References

  1. ↑ "ASSA ABLOY's historical timeline". Assa Abloy Group. Assa Abloy. Retrieved 22 May 2018.
  2. 1 2 3 ASSA ABLOY: "Year-End Report 2017"
  3. 1 2 3 ASSA ABLOY: "Year-End Report 2015"
  4. ↑ Edmondson, Ian (28 July 2010). "Assa Abloy Profit Climbs, Raises Growth Forecast". The Wall Street Journal Europe. Dow Jones Newswires. Retrieved 29 September 2010.
  5. 1 2 3 Assa Abloy Acquisitions Archived 6 December 2013 at the Wayback Machine.
  6. 1 2 Assa Abloy Largest Shareholder
  7. ↑ ASSA History
  8. ↑ Assa Abloy: History
  9. ↑ "Inventor Emil Henriksson, 1886–1959". Abloy. Retrieved 22 May 2018.
  10. ↑ http://mb.cision.com/Main/7333/9431771/135195.pdf
  11. ↑ Assa Abloy Layoffs Finance Trading Times (January 2009)
  12. ↑ Steven Scheer, Tova Cohen: Israeli Companies in West Bank Feel Pressure to Relocate. In: Haaretz, 23 February 2016.
  13. ↑ Annual Report 2014 Retrieved August 22, 2017.
  14. ↑ Assa Abloy Products
  15. ↑ Business & Market Retrieved August 22, 2017.
  16. ↑ "ASSA ABLOY Acquires German effeff Fritz Fuss KGaA - The World's Leading Manufacturer of Electric Strikes. - Free Online Library". Thefreelibrary.com. Retrieved August 22, 2017.
  17. ↑ "GUNNEBO sells Fichet-Bauches lock and door business to ASSA ABLOY - Gunnebo". News.cision.com. December 22, 1999. Retrieved August 22, 2017.
  18. ↑ The Internationalists: Masters of the Global Game, p. 18, at Google Books
  19. ↑ "ASSA ABLOY Acquires HID, World Leader in Identification Technology for Access Control. - Free Online Library". Business Wire. Thefreelibrary.com. November 6, 2000. Retrieved August 29, 2015.
  20. ↑ "27 Apr 2001 ASSA ABLOY acquires the remaining shares in Lockwood, Australia". April 27, 2001. Retrieved August 22, 2017.
  21. ↑ "ASSA ABLOY Acquires Besam - World Leader in Door Automatics Other OTC:ASAZF". Globenewswire.com. April 29, 2002. Retrieved August 22, 2017. (Subscription required (help)).
  22. ↑ "ASSA ABLOY'S HID Global Corporation to Acquire Fargo Electronics Inc.; Acquisition Expands Opportunities for Both Companies in Secure Card Issuance and Electronic Access Control. - Free Online Library". Thefreelibrary.com. Retrieved August 22, 2017.
  23. ↑ "IoT Evolution World". M2mevolution.com. August 10, 2007. Retrieved August 29, 2015.
  24. ↑ "ASSA ABLOY acquires majority stake in iRevo". Bloomberg. Archived from the original on 2 May 2014. Retrieved 29 August 2015.
  25. ↑ "FE Investegate |ASSA ABLOY Announcements | ASSA ABLOY: ASSA ABLOY acquires Ditec, a global leader in e". Investegate.co.uk. July 29, 2009. Retrieved August 29, 2015.
  26. ↑ "Assa Abloy Expects Crawford Integration, Efficiency Cost Of SEK 1.33 Bln". Rttnews.com. 22 September 2011. Archived from the original on 19 October 2015. Retrieved 29 August 2015.
  27. ↑ noodls (December 27, 2012). "ASSA ABLOY acquires 4Front in the US (Assa Abloy AB) - Worldnews.com". Article.wn.com. Retrieved August 22, 2017.
  28. ↑ "ASSA ABLOY has finalized the acquisition of Albany Door Systems". Reuters. 11 January 2012. Archived from the original on 19 October 2015. Retrieved 22 August 2017.
  29. ↑ Clark, Sarah (September 10, 2012). "Assa Abloy launches Seos mobile keys". NFC World. Retrieved August 22, 2017.
  30. ↑ "ASSA ABLOY acquires Mercor SA's fire Doors business Stockholm Stock Exchange:ASSA B". Globenewswire.com. September 6, 2013. Retrieved August 29, 2015.
  31. ↑ "Archived copy". Archived from the original on 2 May 2014. Retrieved 13 March 2017.
  32. ↑ Chopping, Dominic (November 7, 2013). "Assa Abloy buys U.S. garage-door maker Amarr". MarketWatch. Retrieved August 29, 2015.
  33. ↑ Zander, Christina (January 17, 2014). "Assa Abloy acquires IdenTrust in U.S." MarketWatch. Retrieved August 29, 2015.
  34. ↑ "ASSA ABLOY Acquires Lumidigm in the US". MarketWatch. February 10, 2014. Retrieved August 29, 2015.
  35. ↑ "ASSA ABLOY Acquires MSL in Switzerland". Wallstreet-online.de. Retrieved August 29, 2015.
  36. ↑ Direkt (March 26, 2015). "Assa Abloy köper USA-bolag | SvD". Svd.se. Retrieved August 29, 2015.
  37. ↑ "ASSA ABLOY förvärvar Teamware i Malaysia | Placera". Avanza.se. April 28, 2015. Retrieved August 22, 2017.
  38. ↑ http://www.wallstreet-online.de/nachricht/7619838-assa-abloy-acquires-l-door-belgium
  39. ↑ "Assa Abloy". June 4, 2015. Retrieved August 22, 2017.
  40. ↑ "ASSA ABLOY förvärvar Prometal i Förenade Arabemiraten". NASDAQ. GlobeNewswire. June 23, 2015. Retrieved August 22, 2017.
  41. ↑ "Archived copy". Archived from the original on 9 July 2015. Retrieved 8 July 2015.
  42. ↑ http://www.thingstockholm.com/partners/
  43. ↑ "The World's Most Innovative Companies". Forbes. Forbes. Retrieved August 22, 2017.
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