Kaba Working On Saflok And La Gard Aquisition
“The planned acquisition of Computerized Security Systemsprovides Kaba with value-boosting synergy potentials in development,production, marketing and distribution,” says Ulrich Graf, director of KabaHolding AG. Certain antitrust authorities in Europe have yet to approve the transaction, but Kaba expects the acquisition negotiations to be completed successfully within the next few weeks. The Federal Trade Commission (FTC) has also concluded its investigation and has announced the conclusion on the FTC Web site. CSS is a manufacturer of electronic lodging and security locks operating primarily within the United States, Europe and Asia. CSS’ products, which are currently marketed under the brand names Saflok and La Gard, generated $US73 million in sales in 2005. Both Saflok and Kaba products service the hospitality and gaming markets, in addition to the vacation rental market, multihousing market, as well as commercial, military, and government facilities worldwide. La Gardspecializes in security locks for safes, bank vaults and other commercialapplications.