The ASSA ABLOY Group acquired the VHS Plastik Metal. It is a Turkish manufacturer of window and door hardware. This was reported by the company's press centre.
ASSA ABLOY will strengthen its position in the Turkish market after buy. VHS sales for 2021 amounted to about 150 million Turkish liras (equivalent to approximately 8.23 million euros). The deal is expected to close during the fourth quarter of 2022.
"I am very pleased to welcome VHS into the ASSA ABLOY Group. This constitutes an important next step in our strategy to grow market leadership in emerging markets,” commented Nico Delvaux, President and CEO of ASSA ABLOY.
VHS was founded in 1997 and has about 440 employees. The office and factory are located in Silivri, not far from Istanbul.