PADDOCK, the Walsall lock maker and hardware manufacturer has been bought by Swedish conglomerate ASSA ABLOY – owner of the Yale lock brand - for an undisclosed sum.The plan to acquire Paddock Holdings, a leading UK manufacturer of multipoint locks, is conditional on receipt of merger clearance from the UK Office of Fair Trading (OFT). The company has a turnover approaching £30 million and employs 250 people, operating from a modern 90,000 sq ft production centre in Bloxwich. The company has two core brands - Lockmaster......for the full story register now for free or login below...