Schindler Singapore Acquires Majority Stake in XJ Elevator Private Limited

    SINGAPORE, Sept. 13, 2016 /PRNewswire/ -- Schindler Lifts (Singapore) Pte Ltd. today announced it has officially 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 earlier acquisition by Schindler Holding of a majority stake in XJ (Xuchang) Elevator Co. Ltd, now named XJ-Schindler.

    Based in Henan Province, XJ-Schindler is a leading Chinese elevator and escalator company, with its own design, manufacturing, installation and maintenance operations.

    Jujudhan Jena, Chief Executive of Jardine Schindler Group said the acquisition brings exciting new opportunities to Schindler's operations in Singapore and throughout the region. "Schindler has been growing its presence in Singapore since the 1970s, and we are thrilled to be able to expand our role in these strategic markets both locally and beyond," said Jujudhan Jena. "XJ Elevator Private Limited is an outstanding company with excellent products, expertise and people."

    "Enlarging and enhancing our capabilities in Singapore is good news for our customers and employees, as we continue to produce the highest standards of mobility services with the utmost commitment to quality, sustainability and innovation. We are excited about this next chapter of our story," said Steven Foster, Managing Director of Schindler Lifts (Singapore) Pte Ltd.

    Both parties agreed to keep the details of the transaction confidential.

    About Schindler Singapore

    Schindler began operating in Singapore during the 1960s, initially carrying out its business through the appointed agent Harrison Lister Engineering. 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 to market Schindler elevators and escalators across Asia-Pacific, and to provide after-sales maintenance services for its range of products.

    Schindler Lifts (Singapore) Pte Ltd. has since progressed from a small operation to a full-fledged elevators and escalators company. Its principal activities now include the sales, installation, repair, maintenance, and modernization of Schindler elevators, escalators and moving walks.

    Schindler Lifts (Singapore) Pte Ltd. also supports Schindler's operations in Myanmar.

    About Jardine Schindler Group

    Jardine Schindler Group (JSG) is a Joint Venture between Jardine Matheson in Hong Kong and Schindler Group of Switzerland, a leading global provider of elevators, escalators and related services. Who between them bring over 300 years of experience in business management, regional specialization and engineering excellence.

    Schindler mobility solutions move one billion people every day all over the world and support sustainable urban development with safe, reliable and ecologically sound building transportation systems for low-rise residential buildings to commercial and high-rise towers stretching up to half a kilometer into the sky.

    JSG employs some 4,500 staff in a variety of specialist disciplines, ranging from engineering design to construction management. It is headquartered in Hong Kong and has operations in Brunei, Cambodia, Hong Kong, Macau, Malaysia, Myanmar, Indonesia, the Philippines, Singapore, Thailand, Taiwan and Vietnam. It designs, engineers, installs, maintains and modernizes all types of elevators, escalators and moving walkways as well as focuses on offering premium customer services and bringing the best-in-class technologies to the region.

    On average, 100 million people throughout the Asia Pacific regions will be transported by equipment supplied and maintained by JSG on any given day.

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