ASSA ABLOY Celebrates 20 Years as Innovative Global Leader

When ASSA ABLOY was founded in 1994, the business was concentrated to the Nordic countries and had sales of SEK 3,6 billion with 4,700 employees. Since then the Group has grown 1,300% to sales of over SEK 48 billion ($7.37 billion), with 43,000 employees in more than 70 countries and sales all over the world.

One important explanation for ASSA ABLOY’s strong growth is the Group’s focused strategy on an increased market presence, a high rate of innovation and cost efficiency in all processes. All in all, profits have increased by more than 5,000% since 1994 as a result of these activities.

“We are rapidly growing with good profitability and cutting edge technologies. Rising prosperity, extensive urbanization and increasing security awareness all boost sales. Two important emerging fields are secure identities and biometric solutions, as well as new services in electromechanical solutions. Sustainable products and emerging markets are other key factors,” said Johan Molin, CEO and president of ASSA ABLOY.

Investments in R&D have increased substantially. ASSA ABLOY currently has about 1,400 developmental engineers, and more than 27% of sales come from products launched over the past three years. Rapidly growing areas are mainly electromechanical and digital door solutions, which currently account for almost half of sales.

“To meet the demand for increasingly advanced security solutions we will increase the already high rate of innovation over the next five years. Our aim moving forward is to continue to be the industry’s most innovative supplier of door opening solutions,” said Molin.