Assa Abloy: sells elevator business in France

(CercleFinance.com) - Assa Abloy announced on Friday that it had sold PACA, its French elevator maintenance subsidiary, to Finland's Kone, one of the world leaders in the sector, for an undisclosed sum.


The Swedish manufacturer of security systems says that PACA, which it inherited as part of the acquisition of agta record in 2020, generated sales of E30m in 2022.

Founded in 1995, the company currently has about 210 employees.

The group explains that this divestment is part of its strategy to focus on its core businesses, i.e. access solutions.

While the operation should increase its operating margin, its effect on capital should prove insignificant.


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