08.03.17
ASSA ABLOY has acquired SMI (Shree Mahavir Metalcraft), a leading OEM manufacturer of architectural hardware in India.
“I am very pleased to welcome SMI into the ASSA ABLOY Group. The acquisition of SMI delivers on our strategy to grow our presence in emerging markets,” said Johan Molin, president and CEO of ASSA ABLOY.
“SMI is an attractive addition to the Asia Pacific division and reinforces our position in the India market. The acquisition offers the potential to develop market specific competitive products and complements our existing Indian business,” added Magnus Kagevik, EVP of ASSA ABLOY and head of Division Asia Pacific.
SMI was established in 1984. It is headquartered in Jamnagar, west coast of India and has 960 employees. Sales for 2017 are expected to reach INR 1,080 million (approx. SEK 140 million, or $165 million).
“I am very pleased to welcome SMI into the ASSA ABLOY Group. The acquisition of SMI delivers on our strategy to grow our presence in emerging markets,” said Johan Molin, president and CEO of ASSA ABLOY.
“SMI is an attractive addition to the Asia Pacific division and reinforces our position in the India market. The acquisition offers the potential to develop market specific competitive products and complements our existing Indian business,” added Magnus Kagevik, EVP of ASSA ABLOY and head of Division Asia Pacific.
SMI was established in 1984. It is headquartered in Jamnagar, west coast of India and has 960 employees. Sales for 2017 are expected to reach INR 1,080 million (approx. SEK 140 million, or $165 million).