STOCKHOLM, SWEDEN -- (Marketwire) -- 03/26/10 --
ASSA ABLOY has received all necessary regulatory clearances in China to acquire Pan Pan. The company will be consolidated from January 1 2010.
Pan Pan was established in 1982, is headquartered in Yingkou, north of Beijing and manufactures in six locations in China.
Pan Pan has an annual capacity to produce 2.4 million high security doors in the form of fire, anti theft, armored, corrosion proof and standard high security doors.The company has an extensive well established distribution network across China and complements well ASSA ABLOY's other door companies on the Chinese market.
For more information, please contact: Johan Molin, President and CEO, tel no: +46 8 506 485 42 Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72
Press release (PDF): http://hugin.info/1014/R/1397956/353722.pdf
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