Schindler and GE enter strategic partnership to power digital urban mobility

HERGISWIL, Switzerland and SAN RAMON, California, USA, July 6, 2016 – Schindler Group (SIX: SCHN) and GE Digital (NYSE: GE) today announced a strategic alliance that will use the full potential of the Industrial Internet for digital innovations in elevators, escalators and smart buildings.

Schindler will leverage GE’s Predix platform and GE’s proven digital industrial expertise in advanced analytics to further its efforts in the Industrial Internet of Things, predictive analytics, machine learning and in providing smart digital solutions to its users and customers. With Predix, Schindler will enhance its capabilities to monitor, analyze and leverage data generated from its connected elevators, escalators and PORT Technology.

More than one billion people rely on Schindler’s mobility solutions every day. Timely and efficient management of these assets is critical for safety and customer satisfaction. The Predix-based digital platform will enable Schindler’s personnel to proactively and predictively identify, analyze and resolve possible service issues before they happen, reducing and eliminating downtime and improving the experience for users and customers.

“The partnership with GE in the area of the Industrial Internet is a key milestone in our digitization strategy and will allow us to reaffirm our innovation leadership,” says Mr. Alfred N. Schindler, Chairman of the Schindler Group.

“GE and Schindler can deliver premium digital solutions powering urban mobility. Leveraging the Predix industrial operating system, Schindler is positioned to be a digital industrial leader in the elevator and escalator business,” says Mr. Jeffrey R. Immelt, Chairman and CEO of GE.

About Schindler

Founded in Switzerland in 1874, the Schindler Group 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. Behind the company's success are over 57,000 employees in more than 100 countries.