O'Melveny Represents ASSA ABLOY in its Acquisition of Pan Pan Door Company四月 06, 2010
FOR IMMEDIATE RELEASE
O'Melveny & Myers LLP
O'Melveny & Myers LLP
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SHANGHAI, APRIL 6, 2010 – O’Melveny & Myers LLP represented ASSA ABLOY AB in its acquisition of Pan Pan Door Company, a leading Chinese door manufacturer particularly known for its Pan Pan brand security doors.
Li Qiang, the lead partner of the O’Melveny team who is based in Shanghai, commented, "We are seeing continued strong interest from multinational corporates to invest in China. We are very pleased to represent ASSA ABLOY, a very good client, in one of its strategic acquisitions in this market."
ASSA ABLOY is the world’s leading manufacturer and supplier of locking solutions, meeting tough end-user demands for safety, security and user friendliness. In the rapidly growing electromechanical security sector, ASSA ABLOY has a leading position in fields such as access control, identification technology, automatic doors and hotel security. An international group with around 30,000 employees and sales of over SEK 35 billion (US$4.8 billion), ASSA ABLOY has an Asia Pacific division that comprises companies in Australia, New Zealand, China, and elsewhere in Asia. ASSA ABLOY is a publicly listed company traded on the Stockholm Stock Exchange in Sweden.
Pan Pan was established in 1982 and is headquartered in Yingkou, north of Beijing. The Company manufactures in six locations in China and has more than 4,000 employees. Pan Pan has an annual capacity to produce 2.4 million high security doors in the form of fire, anti theft, armored, corrosion proof and standard high security doors. The company has an extensive well established distribution network across China and complements well ASSA ABLOY’s other door companies on the Chinese market.
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