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Schindler Elevator Corporation Acquires Skyline Elevator Inc.

Ontario firm to join global company

TORONTO--(BUSINESS WIRE)--Schindler Elevator Corporation (Canada), a leading elevator and escalator company in North America, has acquired Skyline Elevator Inc. based in London, Ontario.

“Schindler is very enthusiastic about this acquisition”

Established in 1975, Skyline Elevator Inc. focuses primarily on elevator maintenance, repair and modernization. Skyline Elevator Inc. will continue to operate under its existing name and all of its employees will remain with the company. The financial terms of the acquisition were not disclosed. The acquisition will enable Schindler to expand its presence in the southwestern Ontario area and lay the groundwork for future growth there.

"Schindler is very enthusiastic about this acquisition," said Jeff Coles, president, Schindler Canada. "We are very happy to welcome Skyline’s customers and employees. Each company stands to gain a good deal from the other's particular strengths, with great prospects for future profitable growth and progress.”

“Skyline chose Schindler because it shares our commitment to providing the highest quality service and satisfaction to our customers," said Bill Rogan, founder and president of Skyline Elevator, Inc. "The fact that Schindler employs cutting-edge technology in their service delivery efforts was also a great incentive for us.”

About Skyline Elevator Inc.

Skyline services, repairs and modernizes elevators in the southeastern Ontario area. Founded in 1975 by William Rogan, ownership has remained with the Rogan Family Trust since then.

About Schindler Elevator Corporation

Schindler Elevator Corporation (Canada) is the Canadian operation of the Switzerland-based Schindler Group, a leading global mobility provider with approximately 44,000 employees operating in more than 100 countries. Schindler supports sustainable urban development with safe, reliable and ecologically sound mobility solutions and its equipment moves one billion people every day all over the world. For the past three years, Schindler was named one of Forbes Magazine’s 100 Most Innovative Companies, and three of the company’s products received the Architectural Products’ Product Innovation Award. For additional information about Schindler Elevator Corporation, visit the company’s Web site at www.ca.schindler.com.

Contacts

For more information:
Schindler Elevator Corporation
Corporate Communications
Kathy Rucki, Manager, Corporate Communications
Tel. 973-397-6564/ Fax 973-397-3619
kathy.rucki@us.schindler.com
or
For information regarding acquisitions in the Americas:
John Impellizzeri, 973-397-6470
Vice President, Mergers & Acquisitions
john.impellizzeri@us.schindler.com

www.ca.schindler.com