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Assa Abloy
Assa Abloy AB is a Swedish Group whose offerings include products and services related to locks, doors, gates, and entrance automation. Related products and services include controlling access and confirming identities with keys, cards, tags, mobile, and biometric identity verification systems.
The company was formed in 1994, when Assa AB was separated from Swedish security firm Securitas AB. Shortly thereafter, Assa AB merged with the Finnish high security lock manufacturer Abloy Oy (based in Joensuu, a then subsidiary of the Finnish company Wärtsilä). The company was introduced to the Stockholm Stock Exchange later the same year. Assa Abloy has since made over 300 acquisitions including Yale, Chubb Locks, Medeco in the United States, Mul-T-Lock in Israel and Fichet-Bauche in France. Its two largest shareholders are Latour and Melker Schörling AB.
Assa Abloy was founded at the merger of the two companies Assa and Abloy in 1994. Assa stands for August Stenman Stenman August. The name Abloy comes from a contraction of the Swedish Finnish bilingual name Ab Låsfabriken Lukkotehdas Oy, meaning literally Corp. Lock Factory Lock Factory Corp. (first Corp. and Låsfabriken from Swedish, last Lukkotehdas and Corp. from Finnish). In 1919[when?] the company was renamed Aktiebolag Lukko Osakeyhtiö, understood word for word as Corp. Lock Corp.
Assa Abloy was formed in 1994, through the merger of Swedish firm ASSA and Finnish high security lock manufacturer Abloy. The company was introduced to the Stockholm Stock Exchange later the same year.
From a regional company with 4,700 employees in 1994, Assa Abloy has become a global group with 61,000 employees in 2023. The company has grown its revenue by more than 9% annually and operates now in over 70 countries.
Revenue in 2022 was SEK 120,793 M. Sales revenue in 2023 was 140,716 M. The increase of 16% was a third due to the effects of the exchange rate.
In May 1999, the acquisition of Effeff Fritz Fuss in Germany enabled Assa Abloy to enter the electromechanical lock market. Assa Abloy also acquires Mul-T-Lock in Israel, a manufacturer of high security locks. Assa Abloy doubles in size in 2000, when it acquires the global lock group Yale Intruder Security. In the same year, Assa Abloy acquires HID, adding electronic identification to its product portfolio.
In April 2002, Assa Abloy Group acquired Besam, a Swedish company specialized in automatic pedestrian doors. Another important acquisition for the group was Fargo Electronics, a company which develops systems for safe issuing of credit, bank, debit and ID cards. This was followed by other acquisitions such as Baodean in China and Irevo in South Korea in 2007.
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Assa Abloy
Assa Abloy AB is a Swedish Group whose offerings include products and services related to locks, doors, gates, and entrance automation. Related products and services include controlling access and confirming identities with keys, cards, tags, mobile, and biometric identity verification systems.
The company was formed in 1994, when Assa AB was separated from Swedish security firm Securitas AB. Shortly thereafter, Assa AB merged with the Finnish high security lock manufacturer Abloy Oy (based in Joensuu, a then subsidiary of the Finnish company Wärtsilä). The company was introduced to the Stockholm Stock Exchange later the same year. Assa Abloy has since made over 300 acquisitions including Yale, Chubb Locks, Medeco in the United States, Mul-T-Lock in Israel and Fichet-Bauche in France. Its two largest shareholders are Latour and Melker Schörling AB.
Assa Abloy was founded at the merger of the two companies Assa and Abloy in 1994. Assa stands for August Stenman Stenman August. The name Abloy comes from a contraction of the Swedish Finnish bilingual name Ab Låsfabriken Lukkotehdas Oy, meaning literally Corp. Lock Factory Lock Factory Corp. (first Corp. and Låsfabriken from Swedish, last Lukkotehdas and Corp. from Finnish). In 1919[when?] the company was renamed Aktiebolag Lukko Osakeyhtiö, understood word for word as Corp. Lock Corp.
Assa Abloy was formed in 1994, through the merger of Swedish firm ASSA and Finnish high security lock manufacturer Abloy. The company was introduced to the Stockholm Stock Exchange later the same year.
From a regional company with 4,700 employees in 1994, Assa Abloy has become a global group with 61,000 employees in 2023. The company has grown its revenue by more than 9% annually and operates now in over 70 countries.
Revenue in 2022 was SEK 120,793 M. Sales revenue in 2023 was 140,716 M. The increase of 16% was a third due to the effects of the exchange rate.
In May 1999, the acquisition of Effeff Fritz Fuss in Germany enabled Assa Abloy to enter the electromechanical lock market. Assa Abloy also acquires Mul-T-Lock in Israel, a manufacturer of high security locks. Assa Abloy doubles in size in 2000, when it acquires the global lock group Yale Intruder Security. In the same year, Assa Abloy acquires HID, adding electronic identification to its product portfolio.
In April 2002, Assa Abloy Group acquired Besam, a Swedish company specialized in automatic pedestrian doors. Another important acquisition for the group was Fargo Electronics, a company which develops systems for safe issuing of credit, bank, debit and ID cards. This was followed by other acquisitions such as Baodean in China and Irevo in South Korea in 2007.