ASSA ABLOY acquires Silvana, Metalika in Brazil

ASSA ABLOY acquired Metalika, a leading steel fire door company, and signed an agreement to acquire Silvana, a leading lock company, both located in Brazil. The acquisition of Silvana is expected to close during Q4 2014.The acquisitions significantly increase the Group’s footprint in Brazil.

“I am very pleased that Silvana and Metalika are joining the ASSA ABLOY Group. Silvana and Metalika represent the Group’s first major acquisitions in the large Brazilian market. This constitutes an important next step in our strategy to grow market presence in emerging marketsâ€?, says Johan Molin, president and CEO of ASSA ABLOY. “With these two important acquisitions, ASSA ABLOY will now offer more comprehensive door opening solutions across the large Brazilian marketâ€?, says Thanasis Molokotos, executive vice president of ASSA ABLOY and head of the Americas Division.

Silvana established in 1964, is located in Campina Grande, Paraiba, in north-eastern Brazil. Metalika, established in 1999, is located in Sao Paulo, Brazil. Together they double ASSA ABLOY’s existing presence and add approximately 410 employees. The combined sales for Silvana and Metalika are expected to reach approx. EUR 27M in 2015 with good EBIT margins.

Previous articleMiddle East key market for service sector: Simmons
Next articleBlack Iron appoints Les Kwasik as COO
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.