ASSA ABLOY Acquires Metal Products Inc.
ASSA ABLOY has acquired Metal Products Inc. (MPI), a U.S. manufacturer of custom-made hollow metal doors and frames.
“I am very pleased to welcome MPI to ASSA ABLOY. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“MPI has built a strong reputation in our industry for trusted, consistent delivery and exceptional customer focus,” says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “Their best-in-class lead times for custom metal doors and frames, combined with their strategic footprint in the U.S., make them a valuable addition to our division. This acquisition enhances our product offering and strengthens our ability to serve customers with speed, reliability and regional expertise.”
Founded in 1980, MPI employs about 170 people. Its main office and factory are located in Corbin, Kentucky.
Sales for 2024 amounted to approximately $22 million with "a good EBIT margin," according to the announcement. The acquisition will be accretive to earnings per share from the start.
