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Electronics Production | July 03, 2007

Assa Abloy acquires RFID company

Assa Abloy has acquired Aontec Teoranta, one of the world's largest suppliers of RFID inlays* for electronic passports.
Aontec designs and manufactures RFID inlays mainly to European passport printers and security integrators. The operations are conducted in high-security premises in Ireland and employ approximately 140 persons.

"Aontec brings many benefits to our business in identification technologies (ITG) and the rest of Global Technologies Division in expanding the customer base, providing a valuable 2nd secure site to our operations and adding complimentary manufacturing technologies for RFID inlays", commented Johan Molin, President and CEO of Assa Abloy.

Sales in 2007 are expected to reach EUR 15 M. The acquisition is expected to be accretive to the Group's net income in 2007. The company will be consolidated as of July 2007.

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July 18 2018 5:55 pm V10.0.0-2