ASSA ABLOY to acquire JOTEC.

ASSA ABLOY, a firm that develops, designs, and manufactures a complete range of door opening solutions, agreed to acquire JOTEC, an industrial door distributor and service company in Germany. Financial terms were not disclosed. "JOTEC has a strong offering, a well-developed service business, and a large customer base. I am pleased to welcome their experienced team to ASSA ABLOY and look forward to working with them as we continue our successful journey together," Massimo Grassi, ASSA ABLOY Executive Vice President.