Acquisition of majority stake in Dorsët Kaba and three additional businesses completed

Rümlang,

Kaba Group completed the acquisition of an additional 25% of shares in Dorsët Kaba (India) on 31 July 2014, and now owns 74% of this joint venture. The transaction includes the acquisition of the businesses of Mars Industries Pvt Ltd., Dorsët India Pvt Ltd. and Modtech Industries. This concludes the corresponding announcement of 11 June 2014.

Dorsët Kaba operates in two product areas within the Indian market – builders' hardware and security systems. Its builders' hardware includes locks, mortise locks, door handles and door closing mechanisms. In the security systems sector the joint venture offers high security cylinders, physical access systems and turnstiles.

All formalities of the transaction have been settled and the Indian authorities have given the necessary approvals for the announced acquisition.