Assa Abloy facts for kids

Quick facts for kids
Assa Abloy AB

Type	Public (Aktiebolag)
Traded as	OMX: ASSA B
ISIN	ISIN: [https://isin.toolforge.org/?language=en&isin=SE0007100581 SE0007100581]
Industry	Manufacturing and services
Founded	1994; 31 years ago (1994)
Headquarters	Stockholm, Sweden
Key people	Johan Hjertonsson (Chairman), Nico Delvaux (President and CEO)
Products	Locks, automatic and security doors
Revenue	140.7 kr billion (2023)
Operating income	22.18 kr billion (2023)
Net income	13.64 kr billion (2023)
Total assets	196.3 kr billion (2023)
Total equity	91.64 kr billion (2023)
Number of employees	61,000 (2023)

Assa Abloy AB is a big company from Sweden. They make and sell many things related to security. This includes locks, doors, gates, and automatic entrances.

They also create systems to control who can enter places. This means using keys, cards, special tags, mobile phones, or even biometrics (like fingerprints).

The company started in 1994. It was formed when a Swedish company called Assa joined with a Finnish company called Abloy. Abloy made very secure locks. Assa Abloy then became a public company. This means its shares are traded on the Stockholm Stock Exchange. Since then, Assa Abloy has bought over 300 other companies. Some famous brands they own include Yale and Chubb Locks.

What's in a Name?

Assa Abloy got its name from the two companies that merged in 1994. These were Assa and Abloy.

Assa: A Family Name

The name Assa comes from the initials of August Stenman. He was the founder of the original Swedish company. So, Assa stands for August Stenman Stenman August.

Abloy: The Lock Factory

Abloy comes from a Finnish and Swedish phrase. It means "Corp. Lock Factory Lock Factory Corp." The company was first called Aktiebolag Låsfabriken Lukkotehdas Oy. Later, in 1919, it was shortened to Aktiebolag Lukko Osakeyhtiö. This simply means "Corp. Lock Corp."

Company History

How Assa Abloy Started and Grew

Assa Abloy began in 1994. It was created by combining the Swedish company ASSA and the Finnish lock maker Abloy. The company's shares were listed on the Stockholm Stock Exchange that same year.

When it started, Assa Abloy was a regional company. It had about 4,700 employees. By 2023, it had grown into a huge global group. Now, it has 61,000 employees. The company operates in over 70 countries around the world. Its income has grown by more than 9% each year.

In 2023, the company's total sales were 140.7 billion SEK. This was a big increase from the year before.

Our Brands

Assa Abloy owns many well-known brands. Here are some of them:

Buying Other Companies

Assa Abloy has grown a lot by buying other companies. This helps them offer more products and services.

• In 1999, they bought Effeff Fritz Fuss in Germany. This helped them get into the market for electronic locks. They also bought Mul-T-Lock in Israel, which makes very secure locks.
• In 2000, Assa Abloy became twice as big. They bought the global lock group Yale Intruder Security. In the same year, they bought HID. This added electronic identification products to their business.
• In 2002, Assa Abloy bought Besam. This Swedish company makes automatic doors for people. They also bought Fargo Electronics. This company makes systems for creating credit and ID cards safely.
• Later, in 2007, they bought Baodean in China and Irevo in South Korea.
• In 2009, they bought Ditec, an Italian company that makes automatic doors.
• In 2011, they bought Crawford and Flexiforce. More purchases followed in 2012.
• In April 2012, they bought Traka. This company specializes in managing keys and other important items. They also bought Albany Door Systems, which makes very fast industrial doors.
• In November 2013, they bought Mercor SA, a Polish company making fire and security doors. They also bought Ameristar USA and Amarr.
• In December 2018, Assa Abloy bought Lorient. This UK company designs systems for sealing doors. They also bought Luxer One, a package locker business in the US.
• In February 2020, Assa Abloy bought Biosite. This UK company works with biometric access and workforce management technology.
• In May 2021, Assa Abloy bought Sure-Loc. This company is a top supplier of locks for homes in the US.
• In September 2021, Assa Abloy bought the Hardware and Home Improvement (HHI) part of Spectrum Brands. This deal was worth $4.3 billion. HHI makes many products, including smart locks. Their main brands include Kwikset and Baldwin.
• In December 2022, Assa Abloy bought Janam Technologies. This company from New York makes tough mobile computers and readers.
• In October 2023, Assa Abloy bought Securitech Group Inc. This New York company makes high-security door hardware.

Working with Universities

Assa Abloy works with colleges and universities. They are a partner with the Stockholm School of Economics. This means they help fund the college and work closely on research and education. In 2015, Assa Abloy also partnered with KTH Royal Institute of Technology. This is a hub for new companies working on the Internet-of-things.

See Also

• List of Swedish companies