2010-08-23 18:09:04 -
Schindler Elevator Corporation, a leading elevator and escalator manufacturer in North America, has signed an agreement to purchase substantially all the assets of California-based Reliable Elevator, Inc.
(San Diego), Reliable Elevator of Los Angeles, Inc., Reliable Elevator of Orange County, Inc., and Reliable Elevator of Inland Empire, Inc.
Established in 2004, the Reliable Elevator family of companies focuses primarily on elevator maintenance, repair and modernization. The acquisition will enable Schindler to expand its presence in California and lay the groundwork for future growth in the area.
"Schindler is very enthusiastic about this acquisition," said Jakob Zueger, chief executive officer, Schindler Americas. "We are very happy to welcome Reliable’s customers and employees as we enter this exciting new chapter in our history.
Each company stands to gain a good deal from the other's particular strengths, with great prospects for future profitable growth and progress.”
“This acquisition demonstrates Schindler’s commitment to grow strategically through the acquisition of quality independent elevator service companies,” said John Impellizzeri, Schindler’s vice president responsible for mergers and acquisitions.
About Schindler Elevator Corporation
Schindler Elevator Corporation designs, manufactures, installs, services and modernizes a broad range of elevators, escalators and moving walks for almost every building type. The company is the North American operation of the Switzerland-based Schindler Group, a leading global mobility provider, present in more than 140 countries. Schindler supports sustainable urban development with safe, reliable and ecologically sound mobility solutions. For additional information about Schindler Elevator Corporation, visit the company's Web site at www.us.schindler.com :
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Schindler Elevator CorporationKathy Rucki, 973-397-6564Fax:
973-397-3619Manager, Corporate Communications
kathy.rucki@us.schindler.com : mailto:kathy.rucki@us.schindler.com
