{"id":48990,"date":"2017-11-27T08:00:00","date_gmt":"2017-11-27T13:00:00","guid":{"rendered":"https:\/\/www.constructionspecifier.com\/?p=48990"},"modified":"2017-11-28T09:02:10","modified_gmt":"2017-11-28T14:02:10","slug":"allegion-acquire-commercial-door-manufacturer-qmi","status":"publish","type":"post","link":"https:\/\/www.constructionspecifier.com\/allegion-acquire-commercial-door-manufacturer-qmi\/","title":{"rendered":"Allegion to Acquire Commercial Door Manufacturer QMI"},"content":{"rendered":"

Strategic expansion expected to accelerate growth in EMEIA region<\/b><\/i><\/p>\n

DUBLIN–(BUSINESS WIRE)–Allegion, plc<\/a> (NYSE: ALLE), a leading global security products and solutions provider, has agreed to acquire Qatar Metal Industries (QMI) through one of its subsidiaries. The transaction is expected to close in the first quarter of 2018, subject to regulatory approvals.<\/p>\n

<\/a><\/p>\n

Headquartered in the United Arab Emirates, QMI is one of the Middle East\u2019s largest manufacturers of commercial steel and wood doors and frames. This product offering is closely aligned with Allegion\u2019s core business and specification capabilities, and it provides customers with full-door solutions in the Middle East, including options for pre-installed door sets that are code compliant across multiple markets.<\/p>\n

\u201cIn EMEIA, we continue to expand through a focus on creating the best possible customer experience with a full suite of security solutions and services,\u201d said Lucia Veiga Moretti, Allegion senior vice president and president of EMEIA. \u201cWith QMI, we\u2019re further expanding our code-compliant products to include doors in the Middle Eastern market, while leveraging the strength of our existing specification writing capabilities and adding strong relationships across new build and aftermarket environments. All of this supports our strategy to accelerate Allegion\u2019s growth in this fast growing region and EMEIA as a whole.\u201d<\/p>\n

QMI generated approximately $24 million in net sales for the trailing 12 months ended Sept. 30, 2017. The business will operate in Allegion\u2019s EMEIA region.<\/p>\n

\u201cLike Allegion, QMI prioritizes the customer experience through continuous improvements to operating efficiency and quality, as well as a commitment to Lean processes,\u201d said Riad Welly, QMI co-founder. \u201cWe\u2019re excited to have QMI products offered as a key part of Allegion\u2019s full-door solution for end users, specifiers and customers in the Middle East.\u201d<\/p>\n

Terms of the transaction were not disclosed.<\/p>\n

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements that relate to the acquisition\u2019s impact on the Company\u2019s financial and operational performance, the acquisition\u2019s ability to drive growth and the integration of the acquisition. These forward-looking statements are based on the Company’s current available information and its current assumptions, expectations and projections about future events.\u00a0They are subject to future events, risks and uncertainties\u00a0–\u00a0many of which are beyond the Company\u2019s control\u00a0–\u00a0as well as potentially inaccurate assumptions, which could cause actual results to differ materially from those in the forward-looking statements.\u00a0Further information on these factors and other risks that may affect the Company’s business is included in filings it makes with the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended Dec. 31, 2016, Form 10-Qs for the quarters ended March 31, 2017, June 30, 2017, and Sept. 30, 2017, and in its other SEC filings.\u00a0The Company assumes no obligations to update these forward-looking statements.<\/i><\/p>\n

About Allegion\u2122<\/b><\/p>\n

Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA\u00ae<\/sup>, Interflex\u00ae<\/sup>, LCN\u00ae<\/sup>, Schlage\u00ae<\/sup>, SimonsVoss\u00ae<\/sup> and Von Duprin\u00ae<\/sup>.\u00a0Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion is a $2.2 billion company, with products sold in almost 130 countries.<\/p>\n

For more, visit www.allegion.com<\/a>.<\/p>\n

Contacts<\/b><\/p>\n

Allegion, plc
\nMedia<\/b>
\nMaria Pia Tamburri, 317-810-3399
\nDirector, Public Affairs
\nMaria.Tamburri@allegion.com<\/a>
\nor
\nAnalysts<\/b>
\nMike Wagnes, 317-810-3494
\nVice President, Treasurer and Investor Relations
\nMichael.Wagnes@allegion.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Strategic expansion expected to accelerate growth in EMEIA region DUBLIN–(BUSINESS WIRE)–Allegion, plc (NYSE: ALLE), a leading global security products and solutions provider, has agreed to acquire Qatar Metal Industries (QMI) through one of its subsidiaries. The transaction is expected to close in the first quarter of 2018, subject to regulatory approvals. Headquartered in the United… Continue reading Allegion to Acquire Commercial Door Manufacturer QMI<\/span><\/a><\/p>\n","protected":false},"author":1838,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1029],"tags":[],"class_list":["post-48990","post","type-post","status-publish","format-standard","hentry","category-news","entry"],"acf":[],"yoast_head":"\nAllegion to Acquire Commercial Door Manufacturer QMI - The Construction Specifier<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.constructionspecifier.com\/allegion-acquire-commercial-door-manufacturer-qmi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Allegion to Acquire Commercial Door Manufacturer QMI - The Construction Specifier\" \/>\n<meta property=\"og:description\" content=\"Strategic expansion expected to accelerate growth in EMEIA region DUBLIN–(BUSINESS WIRE)–Allegion, plc (NYSE: ALLE), a leading global security products and solutions provider, has agreed to acquire Qatar Metal Industries (QMI) through one of its subsidiaries. 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