European Union General Court dismisses appeals of the elevator industry

13.07.2011

Contacts

For media:
Nelly Keune
Chief Communications Officer
Tel. +41 41 445 30 60
corporate.communications@schindler.com

For investors & analysts:

Marco Knuchel
Head Investor Relations
Tel. +41 41 445 30 61
investor.relations@schindler.com

The General Court of the European Union on July 13, 2011, dismissed appeals by the elevator industry against fines levied by the European Commission in 2007, including one filed by Schindler companies. The only fine to be reduced was that for ThyssenKrupp, by 50%, because the General Court found that the elevator division could not be considered a repeat offender.

Schindler is very disappointed by today's General Court decision. The Executive Committee of the Board of Directors of Schindler Holding Ltd. together with Professor Karl Hofstetter, member of the Board of Directors and General Counsel, have unanimously decided to appeal the judgement, announced today, to the European Court of Justice. Schindler will now closely analyze the judgement, which exceeds 90 pages, and use the findings to file its appeal.