Schindler has based this strategic decision on its historically small overall market share and its withdrawal from the new installation elevator market 10 years ago. This sale ensures long-term prospects for employees as well as continuing service for customers. The new owner’s long-standing local presence provides stability for the local business and maintains the technical expertise.

The completion of the transaction, which is expected to close later this year, is subject to customary closing conditions, including regulatory approvals in Japan. Both parties have agreed to keep terms and conditions of the transaction confidential. 

A telephone conference for media and financial analysts will be held today, April 5, 2016, at 10:00 am CET.

Schindler will be represented by Alfred N. Schindler, Chairman of the Board of Directors. Also present will be Silvio Napoli and Jürgen Tinggren.

To participate in the conference call, please dial one of the following numbers:

+41 (0)58 310 50 00 (Europe)
+44 (0)203 059 58 62 (UK)
+1 866 291 41 66 (USA – toll free)

We recommend dialing-in ten minutes before the conference call begins.