Divesting Randi-Denmark to Acquire Minority Stake in Leading German Door Function Manufacturer Underscores Allegion’s Dedication to Growth
Dublin, Ireland, March 4, 2014 – Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, has completed its agreement to sell its Denmark-based producer of door levers, Randi, to Eco Schulte GmbH, a family-owned German producer of trim and lock products. Allegion will remain a distributor of Randi products. In return, Allegion received a minority stake in Eco Schulte, forging a mutually beneficial partnership between Allegion and Eco Schulte. The transaction closed April 1, 2014.
For more information on the partnership between Eco Schulte and Allegion, please see the original press release.
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Allegion (NYSE: ALLE) creates peace of mind by pioneering safety and security. As a $2 billion provider of security solutions for homes and businesses, Allegion employs more than 8,000 people and sells products in more than 120 countries across the world. Allegion comprises 27 global brands, including strategic brands CISA®, Interflex®, LCN®, Schlage® and Von Duprin®.
For more, visit www.allegion.com.
Source: Allegion PLC
Allegion Completes Sale of UK Doors & Service Businesses