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UPDATE 1-Swedish Assa says could double emerging market sales
November 16, 2012 / 10:21 AM / 5 years ago

UPDATE 1-Swedish Assa says could double emerging market sales

* Emerging markets could reach 50 pct of sales-CEO

* Says has “active pipeline” of acquisitions

STOCKHOLM, Nov 16 (Reuters) - Assa Abloy, the world’s biggest lock maker, has the potential for a significant increase its sales in faster-growing emerging markets, the company said on Friday.

Assa Abloy, whose products range from ordinary household locks to advanced digital entrance systems, has seen sluggish growth in mature markets, not least in Europe where public spending cuts have weighed heavily on demand.

“We think the potential is not the 25 percent we have today but rather 50 percent,” Chief Executive Johan Molin said during a presentation to investors and analysts, referring to the share of group sales located in emerging markets.

The company, with a vast portfolio of brands such as Yale and China’s PanPan, sees its expansion in emerging markets as key for growth amid the weakness elsewhere.

Molin said the company, a rival to U.S. groups Ingersoll-Rand and Stanley Black & Decker, also had an active pipeline of potential acquisitions and continued to target 5 percent acquired growth per year. (Reporting by Anna Ringstrom; writing by Niklas Pollard, editing by Patrick Lannin)

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