DUBLIN (Feb. 1, 2018) – Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has completed, through one of its subsidiaries, the previously announced acquisition of QMI.
Headquartered in the United Arab Emirates, QMI is one of the Middle East’s largest manufacturers of commercial steel and wood doors and frames. This product offering is closely aligned with Allegion’s core business and specification capabilities, and it provides customers with full-door solutions in the Middle East, including options for pre-installed door sets that are code compliant across multiple markets.
Allegion announced its intent to purchase QMI in November 2017. For more information, see the original press release.
# # #
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements that relate to the acquisition’s impact on the Company’s financial and operational performance, the acquisition’s ability to drive growth and the integration of the acquisition. These forward-looking statements are based on the Company's current available information and its current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties - many of which are beyond the Company’s control - as well as potentially inaccurate assumptions, which could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the Company's business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended Dec. 31, 2016, Form 10-Qs for the quarters ended March 31, 2017, June 30, 2017, and Sept. 30, 2017, and in its other SEC filings. The Company assumes no obligations to update these forward-looking statements.
Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion is a $2.2 billion company, with products sold in almost 130 countries.
For more, visit www.allegion.com.
Allegion Announces Jeff Braun as Senior Vice President and General Counsel
Allegion to Divest UK Doors & Service Businesses
Schlage Debuts New Line of Decorative Door Hardware and Extends Matte Black Finish Offerings for Classic and Sophisticated Living Spaces
Allegion to Feature New ENGAGE™ Technology-Enabled Schlage® Wireless Electronic Locks at ASHE