News | July 2021
Orona defies the pandemic
According to the company, Orona improved its market position in 2020 despite the pandemic and achieved turnover of 799 million euros. The cooperative revealed this at its virtual annual general meeting.
The private equity investor capiton AG together with the management led by Cedes CEO Christian-Erik Thöny has bought the company from its previous owner, the Assa Abloy Group.
According to Thöny, the company now had completely independent and neutral ownership in the form of capiton AG and the Cedes management. As a result, all customers can be served in a competition neutral manner. "Moreover, with its far-reaching network, capiton AG has very good access to important customers."
"I find it very satisfactory that Cedes and its employees and customers have acquired a committed, long-term investor in the form of capiton and as a result created opportunities for the future," emphasised Nico Delvaux, president and CEO of Assa Abloy.
Cedes now had the investments and know-how to develop and expand its core business of lift sensors so that "we can concentrate our resources on our core business of automated doors."
"Cedes is a well-functioning company with high quality products and we will continue to cooperate as preferred external supplier with the company," explained Christopher Norbye, Executive Vice President of Assa Abloy and head of the Input Systems Division.
Cedes is a sensor technology company in the lift and door industry. It was established in 1986 and employs about 320 employees. The headquarters of the company are located in Landquart, Switzerland.