Assa Abloy has signed agreements to acquire two Brazilian companies — Papaiz, a leading lock company and Udinese, a leading manufacturer of hardware for sliding doors and windows. The acquisitions will significantly increase the group’s footprint in Brazil.

“I am very pleased that Papaiz and Udinese are joining the ASSA ABLOY Group. Papaiz and Udinese represent for the Group two major acquisitions in the Brazilian market. This constitutes an important next step in our strategy to grow market leadership in emerging markets,” says Johan Molin, president and CEO of ASSA ABLOY.

Papaiz, established in 1952, is located in Salvador, in northeastern Brazil. Udinese, established in 1966, is located in Diadema, near Sao Paulo. Together, they employ about 1,300 workers.

 

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