Press release

June 15, 2016

Schindler acquires the German FB group

Schindler, a leading global elevator and escalator company present in Germany since 1906, is to fully acquire the German FB group. The Saxony-based elevator company is a medium-sized family owned business with a 20 year presence in the German elevator market. The closing of the transaction is subject to merger control clearance by the competent antitrust authorities.

FB group engages in the manufacturing, installation, modernization and maintenance of elevators and elevator components. The group has 225 employees and branch offices in Berlin, Dresden and Leipzig.

The acquisition of the FB group will further strengthen Schindler Germany's strategic direction, particularly relating to the high-end lift segment of custom-made solutions, as well as in the retrofit of elevators.

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.

For further information, please contact:

Dr. Barbara Schmidhauser, Chief Communications Officer

Tel. +41 41 445 30 60, barbara.schmidhauser@ch.schindler.com

Marco Knuchel, Head Investor Relations

Tel. +41 41 445 30 61, marco.knuchel@ch.schindler.com




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