Aug 24 2010
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.
Source: http://www.us.schindler.com/