The US firm Allegion PLC has started as a standalone, publicly-traded company. It’s a spinoff from Ingersoll Rand. The $2 billion-a-year company will be based in Ireland, with regional centres in Carmel, USA; Brussels; and Shanghai.
Dave Petratis, Allegion chairman, president and CEO, said: “For more than a century, we have been pioneers in developing products that help keep people safe where they live, work and visit . This is an opportunity to carry forward the best of Allegion’s heritage, expertise and entrepreneurial roots while becoming bolder at capitalising on major trends in commercial and residential security. As a global enterprise, we will continue to lead the industry in defining and raising the standards for safety and security everywhere.”
Allegion (pronounced uh-lee-juhn) provides mechanical and electronic security products in more than 120 countries. It sells products under 23 brands – from residential and commercial locks, door closers and panic exit devices to access control systems and workforce productivity systems. The portfolio includes brands CISA, Interflex, LCN, Schlage and Von Duprin
With more than 7,600 global employees across sales, production and distribution facilities worldwide, Allegion plans to add 300 jobs in various locations. The company adds that it intends to selectively pursue strategic acquisitions.
“The future of our company and the entire security industry lies in addressing the needs of an increasingly connected world. That’s why we intend to invest in the electronic side of our business moving forward, all while maintaining our same level of dedication to the continuous improvement and advancement of our mechanical products,” Petratis added.
Earlier this year, Allegion announced the appointment of its executives:
•Tim Eckersley, senior vice president and president of the Americas region
•Ray Lewis, senior vice president, human resources and communications
•Barbara Santoro, senior vice president, general counsel and secretary
•Patrick Shannon, senior vice president and chief financial officer
•William Yu, senior vice president and president of the Asia Pacific region
•Todd Graves, vice president, engineering and technology
•Tracy Kemp, vice president and chief information officer
•Chris Muhlenkamp, vice president, global operations and integrated supply chain
•John Stanley, vice president of finance for Europe, Middle East, India and Africa (EMEIA) region, and acting EMEIA regional leader
On December 9, a group of Allegion executives and employees will mark the spinoff by ringing the opening bell at the New York Stock Exchange. Visit http://www.allegion.com/
