GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
Gunnebo (STO:GUNN) security group has acquired Alltech, South Africa’s market leader within entrance control. The acquisition strengthens Gunnebo’s platform from which to develop and leverage its world leading Entrance Control offer to all African markets.
Johannesburg-based Alltech was founded in 1999, has an annual turnover of MEUR 3,7 and 28 employees. The company primarily develops, manufactures, sells and installs full and part height turnstiles, spike barriers and boom barriers.
“With the acquisition of Alltech we get a profitable platform to continue the expansion of our entrance control business into the growth markets in Africa”, says Martin Houseman, Regional Director Gunnebo Africa and Middle East. “Alltech’s product portfiolio also supplements Gunnebo’s strong and world-leading offer within entrance control. Thus, the acquisition will combine to strengthen the Group’s global business”.
The integration of Alltech is planned to be completed during 2011 and the acquisition is expected to give a positive contribution in the fourth quarter of 2011.
GUNNEBO AB (publ) Group Communications
Gunnebo discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.01 on August 18, 2011.
Gunnebo security group has an annual turnover of MEUR 650 and 5,700 employees. We are suppliers of integrated security solutions for bank, retail and sites in need of high security protection. Our experience and presence make your world safer.
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