ASSA ABLOY acquires LOB in Poland
ASSA ABLOY has signed an agreement to acquire LOB S.A., a producer of locks, cylinders and padlocks in Poland.
“I am very pleased to welcome LOB into the ASSA ABLOY Group. The acquisition of LOB delivers on our strategy to grow our presence in emerging markets,” says Johan Molin, president and CEO of ASSA ABLOY.
“LOB is a very attractive addition to the EMEA division, thanks to its well-known brand in Poland and its large installed base. LOB’s variety of mechanical security products will complement the fire doors offered by Mercor and the electromechanical product proposition by ASSA ABLOY Poland,” adds Tzachi Wiesenfeld, executive vice-president of ASSA ABLOY and head of the EMEA division.
LOB was established in 1927 and headquartered in Leszno, with about 440 employees.
The company says the transaction is expected to close during Q2 2017.