Assa Abloy Buys Australian Gate Hardware Manufacturer

By Dominic Chopping

STOCKHOLM--Swedish lock maker Assa Abloy AB said Tuesday that it has acquired D&D Technologies, an Australian designer and manufacturer of gate hardware.

D&D Technologies was established in 1989 and has around 110 employees. Sales for 2021 amounted to about 68 million Australian dollars ($43.5 million) and the acquisition will be accretive to Assa Abloy's earnings per share from the start, it said.

D&D Technologies has its main office and factory located in Sydney.

Financial terms weren't disclosed.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

11-01-22 0646ET