The Car Lock business, which has its headquarters in Tyniste, Czech Republic, employs 450 people and has operations in Mexico, Germany, Switzerland and China. The business had a turnover of EUR 60 M in 2015.
Alpha Corporation is headquartered in Yokohama, Japan, and employs over 4,250 people. The acquisition will expand its global footprint to a total of 19 sites across 11 countries.
“I find it very satisfying that in Alpha Corporation the Car Lock business gets a committed long-term owner that gives the business a new strategic home and creates opportunities for a continued good development” said Johan Molin, President and CEO of Assa Abloy.
The transaction will have a positive effect on Assa Abloy´s operating margin and be neutral to EPS.
The transaction is subject to regulatory approval and is expected to close during the second quarter of 2016.