Schindler : acquires a minority stake in a Chinese joint venture partner
June 07, 2016 at 01:09 am EDT
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Volkslift Elevator (China) Co. Ltd., based in Zhejiang Province, is a local independent Chinese elevator and escalator company, with its own design, manufacturing, installation and maintenance operations.
China is the world's largest elevator and escalator market, accounting for more than half of all global new installations. The new joint venture will further accelerate Schindler's growth in this region by enhancing geographical and customer coverage in areas where Schindler has been less present to date. It is a further consistent step in the execution of Schindler's growth strategy.
Both parties agreed to keep the details of the transaction confidential.
Schindler Holding Ltd. published this content on 07 June 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 June 2016 05:09:02 UTC.
Original documenthttp://www.schindler.com/com/internet/en/media/press-releases-english/press-releases-2016/schindler-acquires-a-minority-stake-in-a-chinese-joint-venture-p.html
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Schindler Holding AG is a Switzerland-based holding company that specializes in the manufacture of escalators, elevators and moving walks. It operates globally within one main segment: Elevators and Escalators. The Elevators and Escalators segment provides a range of elevators for different applications, including freight and special elevators, high-rise elevators, residential elevators and commercial elevators. It also offers commercial and public transport escalators, as well as inclined and horizontal moving walks. It's affiliated company, ALSO Holding AG, which provided information and communications technology and consumer electronics in the wholesale and logistics sectors, was disposed during 2011 and merged with Actebis GmbH, forming ALSO-Actebis Holding AG. In June 2014, closed the real estate development project Mall of Switzerland (formerly EbiSquare) together with Halter AG and sold its stake in EbiSquare AG to Halter AG
SCHINDLER HOLDING AG 
