Leading global safety and security provider, a constituent of the
S&P 500®, now trading on the
New York Stock Exchange
DUBLIN--(BUSINESS WIRE)--
Allegion PLC (NYSE: ALLE), a leading global provider of security
products and solutions, debuted today as a standalone,
publicly-traded company following its spinoff from Ingersoll Rand. The
$2 billion-a-year company will be headquartered in Ireland, with
regional corporate centers in Carmel, Ind., U.S.; Brussels, Belgium; and
Shanghai, China.
"For more than a century, we have been pioneers in developing products
that help keep people safe where they live, work and visit," said Dave
Petratis, Allegion chairman, president and CEO. "This is an opportunity
to carry forward the best of Allegion's heritage, expertise and
entrepreneurial roots while becoming bolder at capitalizing on major
trends in commercial and residential security. As a global enterprise,
we will continue to lead the industry in defining and raising the
standards for safety and security everywhere."
Allegion (pronounced uh-lee-juh n) provides mechanical and electronic
security products and solutions for homes and businesses in more than
120 countries. It sells products under 23 brands and specializes in
security around the doorway and beyond — from residential and commercial
locks, door closers and panic release bars to access control systems and
workforce productivity systems. Allegion's portfolio includes strategic
brands CISA®, Interflex®, LCN®, Schlage® and Von Duprin®.
With more than 7,600 global employees across sales, production and
distribution facilities worldwide, Allegion plans to add 300 jobs in
various locations. The company intends to selectively pursue strategic
acquisitions that complement and enhance its existing business, while
investing in research and development and product development. Allegion
also plans to build on its operational excellence program, pursue growth
in emerging markets and recruit new talent and expertise.
"The future of our company and the entire security industry lies in
addressing the needs of an increasingly connected world. That's why we
intend to invest in the electronic side of our business moving forward,
all while maintaining our same level of dedication to the continuous
improvement and advancement of our mechanical products," Petratis added.
Allegion will compete in the $25 billion global security products and
solutions industry by addressing global trends in the security industry,
which include heightened awareness of security requirements, increased
global urbanization, the shift toward electronic, intelligent security
solutions, and anticipated global rebound of commercial and residential
construction markets.
Earlier this year, Allegion announced the appointment of its executive
team that includes:
-
Tim Eckersley, senior vice president and president of the Americas
region
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Ray Lewis, senior vice president, human resources and communications
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Barbara Santoro, senior vice president, general counsel and secretary
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Patrick Shannon, senior vice president and chief financial officer
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William Yu, senior vice president and president of the Asia Pacific
region
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Todd Graves, vice president, engineering and technology
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Tracy Kemp, vice president and chief information officer
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Chris Muhlenkamp, vice president, global operations and integrated
supply chain
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John Stanley, vice president of finance for Europe, Middle East, India
and Africa (EMEIA) region, and acting EMEIA regional leader
On Dec. 9, a group of Allegion executives and employees will celebrate
the spinoff by ringing the opening bell at the New York Stock Exchange
at 9:30 a.m., ET. Footage of the bell ringing will be available live on NYSE's
website.
This news release includes "forward-looking statements," which are
statements that are not historical facts, including statements that
relate to our business and growth strategy, our ability to capitalize on
industry trends and our ability to define and raise standards for safety
and security. These forward-looking statements are based on our current
expectations and are subject to risks and uncertainties, which may cause
actual results to differ materially from our current expectations. Such
factors include, but are not limited to, our ability to fully realize
the expected benefits of the spinoff; global economic conditions, demand
for our products and services and tax law changes. Additional factors
that could cause such differences can be found in our Form 10. We assume
no obligation to update these forward-looking statements.
About Allegion
Allegion (NYSE: ALLE) helps keep people safe where they live, work and
visit. Allegion is pioneering safety as a provider of security solutions
for homes and businesses through 23 global brands. Allegion specializes
in security around the doorway and beyond: everything from residential
and commercial locks, door closers and exit devices, steel doors and
frames, to access control and workforce productivity systems. Allegion,
a constituent of the S&P 500®, is a $2 billion business
employing more than 7,600 people and offering products in more than 120
countries across the world.
Allegion's portfolio includes strategic brands CISA®, Interflex®, LCN®,
Schlage® and Von Duprin®; and other brands including aptiQ®, Briton™,
Bricard®, Dalco™, Dexter by Schlage®, Falcon®, Fusion Hardware Group™,
Glynn-Johnson®, ITO Kilit™, Ives®, Kryptonite®, Legge®, Martin Roberts™,
Normbau™, Randi™, Steelcraft®, XceedID®.
For more, visit allegion.com
Editor's Note: B-roll and additional media relations information is
available at http://www.allegion.com/corp/en/home/media.html
Allegion PLC
Media:
Susana Duarte de Suarez, 317-810-3393
[email protected]
or
Analysts:
Tom
Martineau, 317-810-3759
[email protected]
Source: Allegion PLC
News Provided by Acquire Media
