Posts Tagged ‘ Nico Delvaux ’

Fourth-Quarter Results Show Assa and Fortune Acquisitions Bode Well

Feb 15th, 2024

Fortune Brands Innovations (Therma-Tru, Solar Innovations, Larson, Yale, August) and Assa Abloy (Caldwell, Interlock) released fourth-quarter financial results in recent weeks, showing positive results from the U.S. market for smart locks. Results follow an exchange between the two companies, in which Assa Abloy divested its Yale brand to Fortune in June 2023. Net sales for […]

ASSA’s Acquisition Streak Continues With Forte

Sep 21st, 2023

ASSA ABLOY has acquired Forte, a residential door locks manufacturer in Peru. The acquisition marks ASSA’s ninth in recent years, most recently including Spectrum Brands’ Hardware and Home Improvement division (HHI) in June. Forte was founded in 1967 and has some 340 employees. The main office and factory are located in Lima, Peru. “I am […]

Amid High Rates and Softer Housing, Industry Execs Show Confidence

Aug 28th, 2023

Chief executives for four leading door, window and hardware companies remain optimistic about demand for their companies’ products, despite what some describe as a “weak” housing market and sentiments about a possible economic slowdown. New home starts increased in July after declining in June, despite increases to interest rates that brought mortgage rates near a […]

Assa Abloy Completes Acquisition of HHI, Dealing Yale and August to Fortune Brands

Jun 21st, 2023

Assa Abloy announced yesterday it completed the acquisition of Spectrum Brands’ Hardware and Home Improvement division (HHI) and the divestment of its U.S.- and Canada-based Emtek and Smart Residential business to Fortune Brands Innovation Inc. HHI was consolidated into Assa Abloy as of June 20, officials said, for the total consideration of $4.3 billion USD […]

U.S. and Assa Abloy Reach Abrupt Settlement

May 8th, 2023

A bench trial between the United States and Assa Abloy came to a screeching halt Friday, after the two parties reached a deal to settle the case. The agreement marked a stark change in strategy, after seven months of deliberation in which the U.S. staunchly objected to Assa Abloy’s plan to acquire the HHI division […]

Assa Abloy Reports ‘Very Strong Start’ to 2023 Amid Court Dealings

Apr 26th, 2023

Assa Abloy’s acquisitions during the first fiscal quarter of 2023 and organic sales growth of 8% are among the factors prompting president and CEO Nico Delvaux to suggest the company has seen a “very strong start to 2023.” The positive report comes amid a challenging week, as the company faces a bench trial, seeking to […]

ASSA ABLOY Acquires Mottura in Italy

Apr 3rd, 2023

ASSA ABLOY announced last week that it has signed an agreement to acquire Mottura Serrature di sicurezza Spa (Mottura), an Italian manufacturer of residential armored lock cases and security cylinders. “We are committed to growing our presence in the Italian market and the acquisition of Mottura provides a great step in strengthening our position in […]

ASSA ABLOY Sells Emtek, Smart Residential Business in US and Canada

Dec 2nd, 2022

ASSA ABLOY says it has entered into binding agreements with Fortune Brands Home & Security Inc. to sell Emtek and the Smart Residential business in the U.S. and Canada. The transaction is ASSA ABLOY’s bid to fully resolve alleged competitive concerns surrounding its proposed acquisition of the Hardware and Home Improvement (HHI) division of Spectrum […]

ASSA ABLOY to Sell Emtek, Smart Residential Businesses in US, Canada

Oct 17th, 2022

ASSA ABLOY has formally responded to the U.S. Department of Justice’s (DOJ) civil antitrust lawsuit seeking to block the company’s proposed $4.3 billion acquisition of the Hardware and Home Improvement (HHI) division of Spectrum Brands Holdings Inc. The DOJ complaint, filed in the U.S. District Court for the District of Columbia, alleges that the merger […]

ASSA ABLOY Acquires Bird Home Automation GmbH in Germany

Oct 7th, 2022

ASSA ABLOY has announced it recently acquired Bird Home Automation GmbH, a German manufacturer of high-quality IP door intercom for single and multi-family buildings, for indoor station or smartphone control, marketed under the trademark DoorBird. “I look forward to welcoming DoorBird and their employees into the ASSA ABLOY Group. DoorBird is a strategic technological addition […]