dormakaba has signed an agreement to sell the dormakaba Kuwait for Ready Made Windows LLC (“dormakaba Kuwait”) to the local management team. The transaction has closed on 19 February 2025. The parties have agreed not to disclose the financial terms of the transaction.
The company remains committed to the market and its customers. Effective after closing, the local management team took ownership of the service business activities in Kuwait and will act as the premier service partner in the country. Under the new ownership, the business will operate as Dormatic Kuwait. The transaction is in line with dormakaba’s strategy to focus on its core markets and reduce complexity.
About dormakaba Group
dormakaba is a leading global provider in the access solutions market. The company reimagines access by setting industry standards for smart systems and sustainable solutions across the lifecycle of a building. More than 15,000 employees worldwide provide their expertise together with distribution partners to a growing customer base in more than 130 countries. dormakaba supports its customers with a broad, innovative portfolio of integrated access products, solutions and services that easily fit into building ecosystems to create safe, secure and sustainable places where people can move around seamlessly.
dormakaba is listed on the SIX Swiss Exchange and is headquartered in Rümlang near Zurich (Switzerland). It generated a turnover of CHF 2.8 billion in financial year 2023/24. SIX Swiss Exchange: DOKA
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This communication contains certain forward-looking statements including, but not limited to, those using the words “believes”, “assumes”, “expects” or formulations of a similar kind. Such forward-looking statements reflect the current judgement of the company, involve risks and uncertainties and are made on the basis of assumptions and expectations that the company believes to be reasonable at this time but may prove to be erroneous. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks, uncertainties and other factors outside of the company’s and the Group’s control which could lead to substantial differences between the actual future results, the financial situation, the development or performance of the company or the Group and those either expressed or implied by such statements. Except as required by applicable law or regulation, the company accepts no obligation to continue to report, update or otherwise review such forward-looking statements or adjust them to new information, or future events or developments.
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dormakaba®, dorma+kaba®, Kaba®, Dorma®, Ilco®, LEGIC®, Silca®, BEST® etc. are registered trademarks of the dormakaba Group. Due to country-specific constraints or marketing considerations, some of the dormakaba Group products and systems may not be available in every market.
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Source:
dormakaba Holding AG
dormakabagroup.com
