Dormakaba sells GMT Hardware for undisclosed sum
dormakaba has sold GMT Hardware Co Ltd to Argus Holdings, a major shareholder of Guangzhuo Seagull Kitchen and Bath Products Co. Ltd. The deal completed on the Shanghai-based company on 29 September 2017, with the financial details kept behind closed doors. GMT offers commercial door hardware products in China, including floor hinges for glass doors […]
Sales rise for Dormakaba
Dormakaba’s 2016/2017 financial year saw consolidated sales increase by 9.4% to CHF 2,250.1 million, with organic sales growth of 4.3%. Net profit increased to CHF 224.6 million thanks to higher profitability and positive tax effects of acquisitions and post-merger integration – strategically important acquisitions were made during the period in North America, including Stanley Black […]
dormakaba completes Stanley Black & Decker security division buy-out
Following last year’s announcement, dormakaba has now completed the acquisition of certain Mechanical Security businesses from Stanley Black & Decker. Included in the buy out is Stanley Commercial Hardware, based mainly across North America witha production facility in Taiwan, as well as GMT in China. The move makes dormakaba a strong number three player in the […]