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ASSA ABLOY Acquires CEDES in Switzerland

CEDES is a leader in sensor technology for the door and elevator industry.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

ASSA ABLOY has signed an agreement to acquire the Swiss company CEDES, a leading company in sensor technology to the door and elevator industry.

“CEDES represents an important step in the strategy of adding more intelligence within entrance automation. Our entrance automation business has grown from SEK 3 billion ($395 million) in 2008 to more than SEK 18 billion proforma ($2.1 billion) in 2015,” said Johan Molin, president and CEO of ASSA ABLOY.

CEDES was established in 1986 and has approximately 340 employees. The company is headquartered in Landquart, Switzerland. CEDES’s sales for 2016 are expected to reach CHF 60 million (approximately SEK 510 million, or $60 million) with a good EBIT margin. The transaction is expected to close during Q1 2016.

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