ASSA ABLOY enters into an agreement to sell Citizen ID [Yahoo! Finance]
TOPPAN HLDGS S/ADR (TOPPY)
NASDAQ:AMEX Investor Relations:
toppan.co.jp/english/ir/index.html
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Source: Yahoo! Finance
The Citizen ID business area of HID manufactures, designs, and implements physical and mobile identity solutions for government to citizen programs around the globe. Citizen ID has some 450 employees with manufacturing facilities in Ireland Malta and the US. Sales in 2023 amounted to about SEK 1,300 M "I find it very satisfying that with TOPPAN, Citizen ID and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success," says Nico Delvaux , President and CEO of ASSA ABLOY. "Over the past decade, our team has created a highly reputable offering of physical and digital citizen identity solutions," said Björn Lidefelt, EVP and Head of HID. "I am pleased with the improved performance of our Citizen ID business, appreciative of our employees' contributions to HID and enthusiastic about their future success with TOPPAN." The transaction will have a positive effect on ASSA ABLOY's operating margin going forward.
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