SCHINDLER HOLDING AG Press release
September 13, 2016
Jardine Schindler acquires majority stake in XJ Elevator Private Limited in Singapore
Schindler Singapore, a subsidiary of Jardine Schindler Group, has acquired 51% of XJ Elevator Private Limited - the exclusive distributor of XJ elevator equipment in Singapore, Asia-Pacific and the Middle East.
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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