Changes to ASSA ABLOY's organization in Asia

The holding company will be responsible for the Group's business in Asia. ASSA ABLOY Asia has grown considerably since the Group was formed in 1996. Today, it is the market leader in most Asian countries within commercial projects, industrial locking and retail. The Group is well positioned to continue the successful growth of high-end security solutions in the region through its seven operating companies with approximately 3,000 employees and sales exceeding MSEK 700.

 

VingCard Asia will continue to report directly to VingCard Headquarters in Norway.

 

has been appointed President and CEO for ASSA ABLOY Asia Limited. C.K, currently the President of Yale Intruder Security Asia, will continue to hold the position as Managing Director of Yale-Guli China.

 

left his position as President and CEO of ASSA ABLOY Asia Pte Limited on 31 December 2000. Lennart has been in the lead of the pioneering efforts of ASSA ABLOY's business in Asia and will remain a member of the ASSA ABLOY Asia Board. Lennart will stay in Singapore during the first six months of 2001 to support the hand over and safeguard that the ASSA ABLOY values and strategies are fully understood and implemented. Lennart is moving back to Sweden with his family and he will be taking on new responsibilities at Headquarters in Stockholm.

 

has been appointed the Managing Director of ASSA ABLOY Singapore in the first quarter of 2001. Jim will be responsible for the initial development of ASSA ABLOY's business in new markets in South East Asia and India. He is currently Managing Director at ASSA ABLOY China Limited and has been very instructive in developing ASSA ABLOY's business in China and Hong Kong.

 

has been named General Manager of ASSA ABLOY Hong Kong - a consolidation of Yale Hong Kong and ASSA ABLOY Hong Kong. In addition, Keith will be responsible for the initial development of ASSA ABLOY's business in Indochina (Vietnam, Myanmar, Cambodia and Laos). Keith is currently General Manager for Yale Security Products (H.K.) Limited and has put in a lot of effort in developing the Yale businesses in Asia.

 

will continue to be the Managing Director for ASSA ABLOY Malaysia.

 

has been appointed Managing Director for ASSA ABLOY Thailand.

 

Edward Poon

has been appointed Finance Director for ASSA ABLOY Asia Limited. Edward will also have direct responsibilities for all financial matters in North Asia headquartered in Hong Kong. Edward is currently based at Yale-Guli China.

 

will have direct responsibilities for all financial matters in South Asia based in Singapore. He will report to Jim Heng Lee.

 

 

has decided to return to Scandinavia after nine years in the Far East. Hong Kong has taken over as regional sales office as of 1 January. The process of streamlining the new organization will take some time and Fred will remain in Singapore until 1 July.

 

has been appointed Head of VingCard Asia as of 1 January. The reporting structure for regions Oceania, South East Asia, Thailand and North East Asia will remain as it is today.

 

has been promoted to Managing Director of VingCard Thailand as of 1 January.

 

will follow suit on 1 July as Managing Director of VingCard Singapore.

 

 

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Sanna Hasselgren

Corporate Communications

Tel: +46 8 506 485 55

Fax: +46 8 506 485 87

 

 

ASSA ABLOY AB, P.O. Box 70340, SE-107 23 Stockholm

Tel: Int+46-8-506 485 00, Fax: Int +46-8-506 485 85

Visiting address: Klarabergsviadukten 90

 

 

 The ASSA ABLOY Group is the world's leading manufacturer and supplier of locks and associated products,