Assa Abloy Sells Businesses to FAAC

Assa Abloy has entered into binding agreements with Italy-based FAAC Group for the sale of certain Agta Record and Assa Abloy businesses. This is part of the commitments the company made to address the competition concerns of the EU Commission in connection with the acquisition of the Swiss company Agta Record.

The divested businesses include the Agta Record operations in the Netherlands, Austria, Hungary and Slovenia, as well as the Assa Abloy automatic pedestrian door business in France and the U.K. Agta Record’s high-speed door business located in France is also included.

The divested business had net sales in 2019 of approximately $108 million, representing about 20% of total initial added revenue. The selling price for the divestiture is approximately $116.2 million on a cash and debt free basis. The divestiture is subject to customary closing conditions and is expected to close during the third quarter of 2020.

Companies Combine to Form Cericom

Lisec Group’s company, Lascom Laser GmbH, has acquired the insolvent Cerion Laser GmbH, giving Lisec access to laser processing of flat glass and technical glass. The businesses will continue to run within the framework of successor company Cericom GmbH, based in Minden, Germany.

Lascom Laser GmbH owns 74% of Cericom and Lisec Holding GmbH owns 26%. The company specializes in technologies for the laser processing of glass. It has been developing laser machines since 2002, and offers highly specialized solutions for internal engraving, marking, drilling and cutting, as well as matting, edge deletion and structuring of all types of glass coatings.

CLARIFICATION

In the article, “Protecting Nature: Glazing Codes for Birds and Other Animals,” on p. 32 of the June issue of USGlass magazine under New York City’s Bird-Friendly Building Legislation—Int. No. 1482-2019-B, it should be noted that the exterior wall envelope and associated openings must be constructed with bird-friendly materials up to 75 feet above grade.

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