Press Release: Schindler and GE Enter Strategic Partnership to Power Digital Urban Mobility

HERGISWIL, Switzerland and SAN RAMON, California, USA, July 6, 2016, Schindler Holding (SIX: SCHN) and GE Digital (NYSE: GE) today announced a strategic alliance that will use the full potential of the Industrial Internet for digital innovations in elevators, escalators and smart buildings.

Schindler will leverage GE's Predix Platform and GE's proven digital industrial expertise in advanced analytics to further its efforts in the Internet of Things, predictive analytics, machine learning and in providing intelligent digital solutions to its users and customers. With Predix, Schindler will enhance its capabilities to monitor, analyze and leverage data generated from its connected elevators, escalators and PORT Technology.

More than one billion users rely on Schindler's mobility solutions every day. Timely and efficient management of these assets is critical for safety and customer satisfaction.The Predix based digital platform will enable Schindler to predictively identify, analyze and resolve possible service issues before they happen, reducing and eliminating downtime.

"Schindler's partnership with GE is a game changer - it will boost Schindler's digitization strategy and reaffirm our innovation leadership", says Mr. Alfred N. Schindler, Chairman.

"GE and Schindler can deliver premium digital solutions powering urban mobility. Leveraging the Predix industrial operating system, Schindler is positioned to be a digital industrial leader in the elevator and escalator business," says Mr. Jeffrey R. Immelt, Chairman and CEO of GE.