The insider purchases by several members of the executive management team at lock manufacturer Assa Abloy, reported to the Swedish Financial Supervisory Authority's insider register over the past few days, are linked to the company's incentive programs. This was confirmed to Finwire by Björn Tibell, Head of Investor Relations.
Among the reported share purchases, CEO Nico Delvaux was registered for a purchase on April 29 of 85,306 shares at a price of 353.99 SEK per share, a transaction valued at 30.2 million SEK. Following this, he holds 615,678 shares in Assa Abloy, according to the ownership tracking service Holdings.
Nico Delvaux is President & Chief Executive Officer of Assa Abloy AB and President, CEO & Head-Global Technology Division at Assa Abloy Italia SpA (a subsidiary of Assa Abloy AB).
In his past career Mr. Delvaux held the position of President & Chief Executive Officer for Neles Oyj and Senior Executive Vice President at Atlas Copco AB and President of Atlas Copco Construction Technique (a subsidiary of Atlas Copco AB).
He received an undergraduate degree from Université Libre de Bruxelles.
Assa Abloy AB is the world's leading manufacturer of locking systems. Net sales break down by family of products as follows:
- security doors and systems (45.3%): shielded and automatic doors, magnetic card locking systems (for use by hotels) and security systems for parking meters, slot machines), etc.;
- electronic and electromechanical locking systems (31.2%): access codes, electronic locks, etc.;
- mechanical locking systems (23.5%): locks, padlocks, bolts, etc.
Net sales are distributed geographically as follows: Europe (32.9%), North America (53.2%), Asia (6.2%), Oceania (3.5%), Central and South America (3.1%) and Africa (1.1%).
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