On 31 January 2011, Kaba Group announced the sale of its Door Automation Business Segment to Nabtesco Group of Japan. Now it confirmed that the transaction had been completed as planned on 1 April 2011. The sale price will be between CHF 220 million and CHF 240 million, dependent upon net asset value at closing. This transaction will result in an exceptional profit of more than CHF 100 million in Kaba's 2010/2011 consolidated accounts.
Jakob Gilgen, Member of the Group Management Board and Head of the Door Automation Segment, is leaving Kaba Group as of 1 April 2011 and will continue to manage that business under its new owners. The Door Automation Segment consists primarily of Kaba Gilgen AG, based in Schwarzenburg (Switzerland), which specializes in automatic and platform doors, along with its international branches and distribution companies. In the last full financial year (2009/2010), the segment generated sales of CHF 182 million and an EBITDA margin of 10.8%. The transaction does not affect the security doors business (Kaba Gallenschütz GmbH), which was integrated into the Access + Data Systems Segment in 2009.
