Hangzhou, (March 1, 2012) - Hangzhou Century Co, Ltd, the leading global innovator in the designing and manufacturing of world-class retail security solutions, has signed an agreement to buy all shares from ACAP Invest in MW Security. The closing will take place as soon as possible, but not later than April 30, 2012.
"This deal is positive for all parties. Century is already available within the same industry as MW Security, which creates great opportunities for synergies and gives the company the opportunity to develop further in a positive way. "Says Mats Lindskog, CEO of ACAP Invest.
“I am very glad and believe that the deal is positive for all parties involved,” added Patricia, CEO of MW Security, “the two companies will together be able to offer a broad program of security solutions within the EAS industry, which gives us the possibility to develop our company in a positive way.”
Century is in the process of integration elements. “The integration of both companies will take place over the next several months. The MW’s business will continue as usual and the organization will continue providing the same level of service as before,” explained Mr. Lu, the President of Hangzhou Century Co., Ltd.
We are all strongly feeling positive and confident in the combination of Century and MW Security. The joining force with MW Security is expected to result in greater efficiencies for Century to realize its strategic goals.
Founded in November 1996, Century is the leading global innovator in the designing and manufacturing of world-class retail security solutions. Century is unique in being the only listed company in the EAS industry in China. Now century is the largest EAS manufacturer of EAS tags and Labels, and the domestic leader in the design and manufacture of RFID and RFID antenna. We supply products throughout Europe, America, Africa, the Middle East, and Asia Pacific, through a worldwide network of 300 distributors in 66 countries.
About MW Security
MW Security was founded 1985 following a need in the retail sector for new, innovative devices to reduce shrinkage and therefore the CD safer was developed, the first CD safer in the world. Before this transaction MW Security was fully owned by ACAP Invest since 2000; listed on the Stockholm Stock Exchange.
About ACAP Invest
ACAP Invest is a Sweden company listed on the Stockholm Stock Exchange. The turnover is approximately 800million in 2011.