dorma+kaba Group has completed the sale of its AutoTime software and related activities to Kronos Incorporated, Chelmsford Mass. (USA), as all formalities of the transaction have been settled.
Kaba Group finished the 2014/2015 financial year with markedly good results. Consolidated sales topped the billion mark once again, rising 8.1% to CHF 1,085.2 million.
The merger of the two businesses of Dorma and Kaba to form dorma+kaba, announced at the end of April 2015, was completed on 1 September 2015.
Kaba Holding AG notes that today Dorma Group publishes its preliminary results for financial year 2014/2015 to 30 June 2015.
The responsible competition authorities have unconditionally approved the planned merger of Dorma and Kaba.
Kaba Group has entered into an agreement with Kronos Incorporated, based in Chelmsford, Mass., (USA) for Kronos to acquire Kaba’s AutoTime software and related activities.
With the appointment of Jörg Lichtenberg as the designated Chief Manufacturing Officer (CMO) the planned Executive Committee of the future dorma+kaba Group is now complete.
Kaba installed its Mobile Access Solutions at The Woodlands Resort & Conference Center in Houston, Texas. This award winning property, owned by The Howard Hughes Corporation, has 406 rooms and caters to conferences, business travelers and families.
Led by CEO designate Riet Cadonau, the planned Executive Committee of the future dorma+kaba Group now has all but one member in place.