Kaba’s corporate strategy is focused on profitable growth, with an emphasis on innovation leadership
in the Access Control sector (Access + Data Systems, Safe Locks) and on cost leadership in the Key
Systems sector.
The Annual General Meeting of Kaba Holding AG has approved all motions put forward by the Board of Directors.
Kaba Group’s sales decreased from CHF 1,130.0 million in the previous year to CHF 945.2 million in 2010/2011. This is mainly because of the disposal of the Door Automation segment. Using like-for-like figures, i.e. excluding the CHF 177.9 million of sales generated by Door Automation, which was sold during the period under review, Kaba posted sales of CHF 952.1 million in the previous year.
The Board of Directors of Kaba Holding AG decided at its last meeting to propose to the forthcoming Annual General Meeting on 25 October 2011 that Thomas Pleines be elected to the Board of Directors.
Kaba Group announces personnel changes to its Board of Directors.
Kaba strengthens its group management by appointing a Head of Group Services and a Head of Group Human Resources.
Kaba Group is acquiring the business of e-Data, based in Dallas (Texas, USA) and Stuttgart (Germany), planned to be effective as of end of May 2011.
Kaba Group confirms that consolidated class action legal proceedings are pending against several Kaba entities in the US, arising out of the sales and marketing of specific models of pushbutton locks sold and distributed by Kaba Access Control in Winston-Salem, North Carolina, US.
The Board of Directors of Kaba Holding AG has appointed Beat Malacarne as the new Chief Financial Officer and Member of the Management Board of Kaba Group. He is scheduled to start in this function on 1 November 2011.
The Board of Directors of Kaba Holding AG has appointed Stefano Zocca to be the new Head of Key Systems Europe/Asia Pacific and a member of the Group Management Board. He takes up his new post on 1 July 2011.
On 31 January 2011, Kaba Group announced the sale of its Door Automation Business Segment to Nabtesco Group of Japan. Today it confirmed that the transaction had been completed as planned on 1 April 2011.
In the first half of the 2010/2011 financial year, the Kaba Group achieved sales which were almost unchanged against the same period of the previous year at CHF 560 million (down 0.4%). Organic sales were up 4.4%.
Having obtained all requisite antitrust approvals, today the Kaba Group successfully completed the acquisition, announced on 19 January 2011, of Møller Undall Group.
Kaba Group is selling its Door Automation business to the Japanese company Nabtesco Corporation for a price of approximately CHF 220 to 240 million. This will result in an exceptional profit of over CHF 100 million in the consolidated accounts for 2010/2011.
Kaba Group is acquiring the Møller Undall Group of Drammen (Norway). With this purchase, Kaba is significantly expanding its position as the second largest provider of locking systems in the Nordic countries, and tripling its selling power in the region.
Rudolf Weber has decided to step down as CEO of the Kaba Group after five business years in the post. The Board of Directors has appointed Riet Cadonau – currently CEO of Ascom – as his successor. The change takes place at the start of the next financial year on 1 July 2011. Riet Cadonau will leave Kaba's Board of Directors on the same date.