ASSA ABLOY is all set to acquire majority stake in Swiss headquartered agta record, a leading manufacturer of automatic pedestrian entrance systems. The 2,600 employees company recorded sales of EUR 374.4 million in the year 2018. agta record has decades of extensive expertise in designing, producing, marketing, installing and maintaining large range of automatic doors.
“I look forward to welcoming agta record and all of its employees into the ASSA ABLOY Group. I am convinced that ASSA ABLOY will be a very good home for agta record which is a strategic addition to the Group and adds important competence, products and services and thus enhances ASSA ABLOY´s position in a competitive entrance automation market, where our sales have grown from SEK 3 billion in 2008 to SEK 24 billion in 2018,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“agta record will complement both our product offering as well as geographic coverage. agta record has with “record” a well-known brand, a strong culture, high quality products and a very strong workforce and management. Our intention is to keep the record brand and keep agta record as a separate Business area, in parallel to our pedestrian door activity, with headquarter in Fehraltorf, Switzerland,” says Mogens Jensen, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
agta record has a globe presence and sells its products and services worldwide. The company is directly present with subsidiaries in 17 countries.