Assa Abloy exits detention biz

Friday, October 1, 2004

NEW HAVEN, Conn. - Assa Abloy has sold its Folger Adam Security Detection business to a fellow detention business operator, shedding a business considered non-core to its future.

The sale, however, did not include Assa Abloy’s Folger Adam Electric Door Control, a separate business that makes electric strikes, magnetic locks and other related security products.

“Even though Folger Adam Security Detention made doors, the detention business, the way it manufacturers, the way it sells, is very different than the way contract hardware sells,” Marna Wilbur, director of

corporate communications and public relations for Assa Abloy North America.

Assa Abloy completed the sale of its detention business in early August to Phelps-Tointon, the owner of Southern Steel and a detention business operator, for an undisclosed amount. The deal included Folger Adam Security Detention’s facility in Illinois. The detention business reported annual sales of $3.2 million.

Wilbur said officials at the Swedish company identified the detention business as non-core about a year ago. She said Assa Abloy acquired the detention business as part of a group purchase in 2000, when it bought Intruder Security Group. That deal included both Folger Adam businesses.

Assa Abloy owns a number of other companies in the security market, including HID Corp., HES, Securitron, Indala, Corbin Russwin and Sargent.