105D Jardine Schindler acquires majority stake in XJ Elevator Private Ltd.

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Schindler Group Website

Jardine Schindler acquires majority stake in XJ Elevator Private Limited in Singapore

13.09.2016

Schindler Singapore, a subsidiary of Jardine Schindler Group, has acquired 51% of XJ Elevator Private L 2238 imited – the exclusive distributor of XJ elevator equipment in Singapore, Asia-Pacific and the Middle East.

Contacts

For media:
Press Office
Tel. +41 41 445 30 60
corporate.communications@schindler.com

For investors & analysts:
Marco Knuchel
Head Investor Relations
Tel. +41 41 445 30 61
investor.relations@schindler.com

The acquisition is a natural consequence of the acquisition by Schindler Holding of a majority stake in XJ (Xuchang) Elevator Co. Ltd, now named XJ-Schindler, in 2014.
Based in Henan Province, XJ-Schindler is a leading Chinese elevator and escalator company, with its own design, manufacturing, installation and maintenance operations.

The acquisition brings strategic opportunities to Jardine Schindler’s operations in Singapore and throughout the region. Both parties agreed to keep the details of the transaction confidential.
 

About Schindler

Founded in Switzerland in 1874, the Schindler Group is a leading global provider of elevators, escalators and related services. Schindler mobility solutions move more than one billion people every day all over the world. Behind the company's success are over 57,000 employees in more than 100 countries.

About Schindler Singapore

Schindler began operating in Singapore during the 1960s. In 1975 Schindler Lifts (Singapore) Pte. Ltd. was established, one year after Jardine Matheson of Hong Kong, and Schindler Holding Ltd. of Switzerland, embarked on a joint venture. Schindler Lifts (Singapore) Pte Ltd. also supports Schindler's operations in Myanmar.

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