Assa Abloy to Buy South African Manufacturer of Security Communication Equipment

By Dominic Chopping

STOCKHOLM--Assa Abloy said Tuesday that it has agreed to buy Amecor, a South African manufacturer of security communication equipment.

Amecor was established in 1994 and has around 120 employees. The main office and factory are located in Johannesburg, South Africa.

Sales for 2022 amounted to about 270 million South African rand ($14.1 million) and the acquisition will be accretive to EPS from the start, the company said.

The acquisition is expected to close during the second quarter of 2024.

Financial terms weren't disclosed.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

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