dormakaba has successfully completed the previously announced divestment of the South African entity dormakaba South Africa (Pty) Ltd. to the local management team with effect from 31 December 2024.
The Sub-Saharan African business divested by dormakaba will continue to operate under new ownership and will serve as the exclusive dormakaba partner in the region.
New production facility
To consolidate its Montreal (Canada) based sites dormakaba sold the company's previous manufacturing and engineering site at the end of December 2024. The company continues its business operations from the previously announced new Montreal hub, including a new production facility.
The parties involved in each of the completed transactions have agreed not to disclose the financial terms of the transactions. dormakaba continues to successfully execute its strategy and focus on reducing complexity, increasing performance, driving innovation and promoting growth.