By Joe Hoppe

Assa Abloy AB said Thursday that it has agreed to buy Polish fire-rated curtain and gate producer Malkowski-Martech SA for 33 million Polish zloty ($8.1 million).

The Swedish lock maker said it purchased an 85.7% stake in company from the Malkowski family. The company's sales amounted to around PLN50 million in 2020, with good earnings margins. The acquisition is expected to be immediately accretive to earnings per share.

"The addition of market leading fire rated curtains and gates from Malkowski-Martech strengthens our commercial fire rated door product portfolio. The combined offering allows us to even better address the customer needs for flexibility in building design and ease of installation," Executive Vice President Neil Vann said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

Corrections and Amplifications

This article was corrected on Jan. 4, 2022 because it misstated that Assa Abloy AB agreed to buy Malkowski-Martech SA for PLN3 million. Assa Abloy AB has agreed to buy Polish fire-rated curtain and gate producer Malkowski-Martech SA for 33 million Polish zloty ($8.1 million).

(END) Dow Jones Newswires

12-23-21 1247ET