Nippon Otis Completes Acquisition of Schindler Service Business in Japan

OESC_OTIS



Tokyo/Japan, Oct 3rd, 2016 — Nippon Otis Elevator Company (“Nippon Otis”) and Schindler Elevator K.K. (“Schindler Elevator”) today announced that Nippon Otis has completed the acquisition of the elevator and escalator service business of Schindler in Japan.

Schindler’s elevator and escalator business in Japan consisted of two companies, Schindler Elevator with approximately 380 employees and Mercury Ascensore Ltd. (“Mercury”), a multi-brand maintenance service provider with approximately 220 employees.

In this transaction, Nippon Otis has acquired all shares of Mercury and a new company which was formed by transferring the elevator and escalator service business, related employees and assets of Schindler Elevator. The new company, which will be named Otis Elevator Service Company (“OESC”), will be the exclusive, authorized Original Equipment Manufacturer (“OEM”) maintenance service provider of Schindler equipment in Japan and will have access to original OEM spares and solutions for continued maintenance and modernization for Schindler products in Japan.

Schindler Elevator will remain in Japan as an entity to meet its legal and societal obligations with respect to ongoing litigation and investigation and will take all necessary actions until they are resolved.

“We are pleased with the successful completion of this transaction, which enhances our commitment to Japan and Japanese society. We are proud to have the opportunity to extend our high-quality service and dedication to safety for the OESC and Mercury customers,” said Stephane de Montlivault, Otis Northeast Asia president, and president, Nippon Otis. “It is also my pleasure to welcome our new colleagues to our Otis family of more than 66,000 employees worldwide.”

"We are pleased to announce that we have successfully completed the smooth transfer of Schindler’s elevator and escalator service business in Japan to Nippon Otis,” said René Kunz, President, Schindler Elevator. “We are confident this will ensure that our customers continue to receive the best service, while providing new growth opportunities for our employees in Japan.”

About Otis Elevator Service Company
Address: 1-2-21, Ecchujima, Koto-ku, Tokyo, Japan
President: Tatsuya Endo
Business: Maintenance, repair and modernization for Schindler elevators and escalators, and supply of OEM spares and solutions.
Number of employees: 380
Shareholder and share: Nippon Otis Elevator Company, 100%
Website: www.oesc.co.jp

For further information please contact:

Nippon Otis Elevator Company/ Otis Elevator Service Company:
Itsuki Shinohara, Communications Department Tel: +81-(0)3-5981-0354

Schindler Elevator:
Masaaki Gotsubo, Communications Division Tel: +81-(0)80-3695-8445

About Nippon Otis Elevator Company:

Nippon Otis Elevator Company is the Japanese subsidiary of the US headquartered Otis Elevator Company, the world’s leading manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways. Consistent with the vision of the creator of the modern safety elevator, Otis is specialized in new construction, installation, maintenance and repair of people-moving products, with a history of more than 120 years in Japan. The first Otis elevator in Japan was installed in 1896, the first escalator was installed in 1914, and the forebear to the current Nippon Otis Elevator Company was established in 1932. Through its companies, Otis is in more than 200 countries around the world. Otis is a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information please visit: http://www.otis.com/site/jp and http://www.otisworldwide.com/.

About Mercury Ascensore Ltd.

Headquartered in Kagoshima Prefecture, Mercury Ascensore Ltd. is a maintenance and service provider for elevators, escalators and automated car-parking machines covering a service range from 24 hour emergency call systems to renewal. Mercury has been providing quality services backed by technology to customers at competitive prices. Mercury’s mission is to win customer satisfaction. Since it was established in 1971, it has accumulated know how to provide robust maintenance systems that do not compromise on safety but that has no frills to achieve high cost performance. For more information please visit: http://www.ascensore.co.jp/.

About Schindler Elevator K.K.

Starting with the previous Nippon Elevator Industry Co. Ltd. in 1954, Schindler Elevator K.K. was established in 1991 and was the Japanese operating entity of the Switzerland-based Schindler Group. Schindler 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. Its innovative and environmentally-friendly access and transit-management systems make an important contribution to mobility in urban societies. Behind the company's success are over 57,000 employees in more than 100 countries. For more information, please visit: http://www.schindler.com/jp and http://www.schindler.com.

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