Gunnebo Security Group signed an agreement to acquire all shares in a turnstile distributor dealer. The deal was announced today between Gunnebo and ATG Entrance Corporation, a distributor of Gunnebo's turnstile products in the South Korean market.
ATG Entrance Corporation has 13 employees in its sales office in Seoul. The company has solid client base in South Korea. This included firms like LG, Hyundai, Samsung and the government of South Korea. ATG Entrance has been a distributor for Gunnebo Security for 10 years. The company also holds a hefty 70% in the turnstile market of South Korea.
According to the President and CEO of Gunnebo Per Borgvall, South Korea is among the advanced economies in Asia. The country holds an interesting market for Gunnebo and its acquisition of ATG Entrance is line with the company's strategic agenda to move outside of the European market, he added. Further, Brogvall said that ATG is a good platform to introduce other offerings from Gunnebo into the market of South Korea as well as to other surrounding Countries.
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