ADEMCO ACQUIRES MAJORITY INTEREST IN BRAZIL’S SIPROEL
Ademco Intl. announces that it has acquired a majority interest in the Brazilian alarm and sensor manufacturer Siproel, located in Curitiba, Parana, Brazil. Financial terms of the acquisition were not disclosed. Siproel recently relocated to new manufacturing and warehouse facilities, giving the company more than eight times the size of the former operations. The announcement was made by Dean McCaskill, vice president for Ademco, who concluded the deal in late October with Siproel’s two partners—Aires and Altair Follador.
“We are very pleased to be joining forces with Siproel—which has now been renamed Ademco Siproel,” says McCaskill. “The industry knowledge and entrepreneurial spirit that has made Siproel successful thus far weighed significantly in our decision to partner with it. Our plan is to continue to develop and manufacture Siproel’s product line as well as expand the production facilities and manufacture products from various business groups, including Ademco and FBII intrusion products, ASC sensors and Northern Computer access control products.”
Ademco is a division of Honeywell Intl., a worldwide provider of security and building automation, with annual sales in excess of $23.5 billion.
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