Assa Abloy: completes sale of Swiss sensor unit

(CercleFinance.com) - Swedish lock maker Assa Abloy said on Thursday that it has completed the sale of its sensor technology business in Switzerland to German private equity firm capiton.


Cedes - which makes sensors for the elevator and door industries - was launched in 1986 and has some 320 employees. It is headquartered in Landquart, Switzerland, making sales of about 50 million euros.

Assa Abloy said the deal will have a neutral effect on its operating margin, with the business to be de-consolidated as from November 2020.

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