FAAC Group acquires ZEAG Group, key international player in parking revenues management control

The ZEAG acquisition is for us very exciting, not only because it reinforces our competitive positioning in the international Parking solution arena, but also because ZEAG is undoubtedly an historic and reference brand in the sector, to whose values of product quality and uncompromising customer service we feel very familiar with. The ZEAG Group acquisition represents another step forward in FAACs strategic plan comments Andrea Marcellan, FAAC Group CEO.

We are honoured to join the FAAC Group, and we believe that its international coverage, made up of 15 Sales and Service offices in all key markets, will represent a booster for ZEAG growth in those markets where ZEAG currently does not have a direct presence. The FAAC and ZEAG combination will release additional business potential starting this very same year. comments Bernard Lacoste ZEAG Group CEO

Zeags high end parking equipment and solutions definitely extends FAACs offer in the sector and positions our Group as a top player in the international Parking solutions arena. comments Jacopo Malacarne, Sales & Marketing Director at FAAC Group.

About ZEAG Group

With over 50 years of experience in parking solutions, ZEAG has been involved in providing Parking Systems and solutions for many of the world's leading companies and organisations. Based in Switzerland, in the vicinity of Zürich (Spreitenbach), ZEAG has historically been committed to providing its customers with effective parking system solutions which afford an increased competitive edge, and an enhanced level of customer service. ZEAG currently relies on four main international Sales and Service offices outside Switzerland, strategically positioned in USA, Canada, UK and South Africa.

About FAAC Group

FAAC is a privately owned Italian Group founded in 1965 and is based in Bologna. FAAC pioneered the market of gates, garage doors and barrier automation through our in house expertise and competitive knowledge.

FAAC now represents an international industrial Group active in 4 main business lines. FAAC employs 860 people (per December 31st, 2010) in 11 manufacturing sites and 15 Sales and Service offices in the main international markets. FAACs vision is to grow and expand its market coverage in all 4 business lines, sustained by both internal development and an active but selective acquisition policy.