ASSA ABLOY has closed the sale of its sensor technology business CEDES in Switzerland to capiton AG.
CEDES is a leading sensor technology company in the elevator and door industry. CEDES was established in 1986 and has some 320 employees. The company is headquartered in Landquart, Switzerland. Sales in 2019 amounted to about 51 MEUR.
The transaction will have a neutral effect on ASSA ABLOY´s operating margin. The divestiture will be de-consolidated from ASSA ABLOY as of November 2020.
Source: www.assaabloy.com
