Mul-T-Lock to buy Italian lock maker

Mul-T-Lock said Essity had 2006 revenue of € 7m. Yavneh-based Mul-T-Lock, which had revenue of NIS 305m. in 2006, expects 2007 revenue to increase to NIS 470m. in 2007.

Mul-T-Lock, (formerly Rav Bariah), Israel's largest producer of locking systems, said Monday it will buy Italian lock manufacturer Essity for about NIS 20 million. It will be the company's first purchase of a foreign lock manufacturer. Mul-T-Lock said Essity had 2006 revenue of € 7m. Yavneh-based Mul-T-Lock, which had revenue of NIS 305m. in 2006, expects 2007 revenue to increase to NIS 470m. in 2007.