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LCN employees celebrate new ownership

Published: Wednesday, Dec. 11, 2013 2:29 p.m. CDT • Updated: Wednesday, Dec. 11, 2013 3:39 p.m. CDT
Caption
(BCR photo/Lyle Ganther)
LCN Closers of Princeton is under new ownership. Allegion PLC of Dublin, Ireland, became a standalone, publicly-traded company following its spinoff on Dec. 2 from Ingersoll Rand. LCN (Princeton operations) leadership team members stand behind the new sign erected at the plant on West Railroad Avenue in Princeton. Team members are, from left, Sarah Krisch, Greg Whightsil, Chris Dybek, Barry Grover, Roger McCabe, Jason Krich, Dennis Pezan, Mayor Keith Cain, Carlyn Brune, Jimmy Lewis and Cindy Farrer.

PRINCETON — The 275 employees of LCN Closers in Princeton on Wednesday celebrated their new ownership with games, prizes and a catered lunch.

Allegion PLC, a $2 billion-a-year company with headquarters in Ireland, became a standalone, publicly-traded company on Dec. 2 following its spinoff from IngersollRand, the former owner of LCN.

“It is an exciting time for the LCN team,” said Barry Grover, a 12-year employee and process innovation manager.

Rhonda Beaber, who has worked at LCN for 28 years, said, “We are looking forward to this new journey with Allegion LCN division.”

Allegion PLC will have regional corporate centers in Carmel, Ind., Brussels, Belgium, and Shanghai, China.

“For more than a century, we have been pioneers in developing products that help keep people safe where they live, work and visit,” said Dave Petraitis, Allegion chairman, president and CEO. “This is an opportunity to carry forward the best of Allegion’s heritage, expertise and entrepreneurial roots while becoming bolder at capitalizing on major trends in commercial and residential security. As a global enterprise, we will continue to lead the industry in defining and raising the standards for safety and security everywhere.”

Allegion provides mechanical and electronic security products and solutions for homes and businesses in more than 120 countries. It sells products under 23 brands and specializes in security around the doorway and beyond, ranging from residential and commercial locks, door closers and panic release bars to access control systems and workforce productivity systems. Allegion’s portfolio include CISA, Interflex, LCN, Schlage and Von Duprin.

With more than 7,600 employees across sales, production and distribution facilities worldwide, Allegion plans to add 300 jobs in various locations. The company intends to selectively pursue strategic acquisitions that complement and enhance its existing business, while investing in research and development and product development. Allegion also plans to build on its operational excellence program, pursue growth in emerging markets and recruit new talent and expertise.

“The future of our company and the entire security industry lies in addressing the needs of an increasingly connected world,” added Petraitis. “That’s why we intend to invest in the electronic side of our business by moving forward, all while maintaining our same level of dedication to the continuous improvement and advancement of our mechanical products.”

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