Assa Abloy sells Czech car lock business to Alpha Corporation
According to KOVO trade unions chief in Assa Abloy Rudolf Procházka, car locks did not match the corporations’ portfolio. The €17 million transaction is the first large investment of Alpha Corporation in Europe. The Japanese company confirmed that it planned to extend its operations on the European market through further acquisitions. Assa Abloy still operates a plant in Rychnov, one of Europe’s major producers of cylinder locks and padlocks. Another Assa Abloy’s plant in Stříbro produces automatic entrance, garage and industrial doors.