ASSA ABLOY Increased Market Share in Steel Doors and Frames

Baron Metal Industries is a well established company primarily in the Canadian commercial steel door and frame industry. Baron has established itself during the last 25 years as a strong player in the mid-range door and frame market. The acquisition enhances ASSA ABLOY's solutions offering for a broader range of steel doors and frames enabling ASSA ABLOY to address relevant segments in the market.

The Company has its headquarters and operating facility in Woodbridge, Toronto.

Annual sales amount to approximately CAD 30 M with a good EBIT-margin and the acquisition is expected to be accretive to EPS from the date of acquisition. The Company has approximately 140 employees. Restructuring costs in connection with the acquisition are expected to amount to approximately CAD 1 M.