PR Newswire | Nov 12, 2020 02:28AM EST

11/12 01:27 CST

ASSA ABLOY?s divestiture of CEDES in Switzerland to capiton AG completed- ASSA ABLOY has closed the sale of its sensor technology business CEDES in Switzerland to capiton AG. STOCKHOLM, Nov. 12, 2020

STOCKHOLM, Nov. 12, 2020 /PRNewswire/ -- CEDES is a leading sensor technology company in the elevator and door industry. CEDES was established in 1986 and has some 320 employees. The company is headquartered in Landquart, Switzerland. Sales in 2019 amounted to about 51 MEUR.

The transaction will have a neutral effect on ASSA ABLOY's operating margin.

The divestiture will be de-consolidated from ASSA ABLOY as of November 2020.

For more information, please contact:Nico Delvaux, President and CEOtel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice Presidenttel. no: +46 8 506 485 72 Bjrn Tibell, Head of Investor Relationtel. no: +46 70 275 67 68

About ASSA ABLOYThe ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 49,000 employees and sales of SEK 94 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

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https://news.cision.com/assa-abloy/r/assa-abloy-s-divestiture-of-cedes-in-switzerland-to-capiton-ag-completed,c3235550

The following files are available for download:

https://mb.cision.com/Main/7333/3235550/1333902.pdf Press release (PDF)

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SOURCE ASSA ABLOY