ASSA ABLOY sells its Swiss sensor business

CEDES is a sensor technology company in the elevator and door industry. The company is headquartered in Landquart, Switzerland and has some 320 employees. Sales in 2019 amounted to about EUR 51million. "I find it very satisfying that with capiton AG, CEDES and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of ASSA ABLOY, in a press release. "CEDES now has the investment and expertise to grow and expand its core business of elevator sensors, allowing us to focus our resources on our core business of automated doors. CEDES is a well-performing business with high quality products, and we will continue to partner with the company as a preferred external supplier,” adds Christopher Norbye, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2020.