Kaba sells Door Automation business segment to Nabtesco

Kaba Group is selling its Door Automation business to the Japanese company Nabtesco Corporation for a price of approximately CHF 220 to 240 million. This will result in an exceptional profit of over CHF 100 million in the consolidated accounts for 2010/2011. The transaction does not include the Security Doors business, which because of its closer fit with integrated access systems was transferred to Access + Data Systems in 2009.

Rudolf Weber, CEO of Kaba Group: "We have examined different strategic options for Door Automation and decided to sell; this business offers few synergies with Kaba's other activities and lacks the critical mass to take a leading global position. We are very pleased about the outcome of the transaction as it benefits all parties involved. The experienced management team headed by Jakob Gilgen will still lead the business, and the production site at Schwarzenburg in Switzerland will continue its work. Our cooperation with Gilgen in selected markets will also go on. The divestment gives Kaba Group the financial power to further strengthen its business."

Jakob Gilgen, COO Door Automation: "We welcome the transaction because Nabtesco and Kaba Door Automation complement each other ideally. Nabtesco provides a business environment that will enable us to boost our global market presence and create additional synergies for platform screen doors and other products." Door Automation consists mainly of automatic and platform screen doors specialist Kaba Gilgen AG, based in Schwarzenburg (Switzerland), along with its distribution companies abroad, particularly in Great Britain. In the 2009/2010 financial year, the business segment and its 829 employees generated net sales of CHF 182.1 million and an EBITDA margin of 10.8%