ASSA ABLOY (STO:ASSAB) has signed an agreement to acquire ODIS Limitada, a leading supplier of locks, padlocks, and steel doors to the Chilean market.

"I am very pleased to welcome ODIS into the ASSA ABLOY Group. ODIS constitutes another important step in our strategy to grow market presence in Chile and other emerging markets,” says Johan Molin, President and CEO of ASSA ABLOY.

"ODIS is a very exciting addition to the Americas division. This acquisition will enhance our ability to serve our customers in the Chilean market and allows us to offer a total door opening solution in the market," says Thanasis Molokotos, Executive Vice President of ASSA ABLOY and Head of the Americas Division.

ODIS, established in 1930, is headquartered in Santiago, Chile and has 240 employees.

Sales for 2015 are expected to reach CLP9.9bn. The acquisition will be accretive to EPS from the start. The transaction is expected to close during Q4 2014.

ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety, and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 43,000 employees, operations in more than 70 countries and sales of about SEK 50 billion.