| DALLAS, TX - (May 21, 2003) With current economic conditions, including
a volatile U.S. stock market and seemingly endless buyouts, mergers and
corporate scandals, it is more critical than ever to know the stability
and financial business practices of your corporate vendors and strategic
business partners in the hospitality industry. At ASSA ABLOY Hospitality
Inc., those practices are guided by the Four Cornerstones of the ASSA ABLOY
Group. Each ASSA ABLOY Hospitality brand, which includes Elsafe, Timelox,
VingCard and INHOVA, strictly adhere to these cornerstones, which ensure
strong ethics and fair business practices with both vendors and clients
in the hospitality industry.
In a recent statement, Mats Gustafsson, President and CEO of ASSA ABLOY
Hospitality Inc. In Dallas said, �As the world�s largest conglomerate of
locking and security related companies, ASSA ABLOY ensures the continued
success of ASSA ABLOY Hospitality and our brands, as well as 100 Group
companies around the world with a common set of principles. Each company
and individual within the ASSA ABLOY Group is required to strictly adhere
to these principles, known as the ASSA ABLOY Cornerstones. These cornerstones
comprise the corporate philosophy, and include Realism, Vision, Ethics
and Courage.�
. Vision, the second ASSA ABLOY Cornerstone, requires employees to conduct themselves as leaders in thought and action, and for all ASSA ABLOY Group assume leadership and planning roles in their respective fields. To that end, ASSA ABLOY Hospitality remains the leading supplier of locking and security products to the hospitality industry worldwide, and is actively involved in industry associations that guide the future of hospitality. Perhaps the most important cornerstone, Ethics, dictates a high standard of conduct in all business dealings, including financial practices, as well as all employee and client relations. It calls for all members of the Group to act in accordance with a corporate code of ethics that has made ASSA ABLOY the world�s leading lock group with over 30,000 employees worldwide and approximately $3 billion USD in annual sales. Courage, the final cornerstone, ensures that the ASSA ABLOY Group companies continue to innovate, grow and change as client needs and markets change. For more information, or a copy of the most recent ASSA ABLOY annual report, please contact Mats Gustafsson at (972) 692-3113 or visit www.assaabloy.com or www.assaabloyhospitality.com. About the ASSA ABLOY Group
A public Swedish company traded on the Stockholm Stock Exchange, the ASSA ABLOY Group is the world�s leading manufacturer and supplier of locking solutions dedicated to satisfying end-user needs for security, safety and convenience. The Group has around 30,000 employees and annual sales of approx. USD 3 billion. For more information, please visit www.assaabloy.com. ASSA ABLOY Hospitality Inc. markets a host of ASSA ABLOY products, including locks, components and modern systems for security and safety in hotels. The offering includes Elsafe, Timelox, VingCard and INHOVA. ASSA ABLOY Hospitality is an ASSA ABLOY Group company. The ASSA ABLOY Group is the world�s leading manufacturer and supplier of locking solutions, dedicated to satisfying end-user needs for security, safety and convenience. The Group has about 30,000 employees and annual sales of about EUR3 billion. |
ASSA
ABLOY Hospitality is supported by its parent company ASSA ABLOY.
The ASSA ABLOY Group gives hospitality providers access to unmatched resources
including extensive R&D, comprehensive product lines and local market
knowledge around the world. Unlike other companies who rely on outsourcing
and strategic alliances, the ASSA ABLOY Group enjoys complete ownership
of their processes from idea to installation.