Schindler prepared to challenge potential Kone-TK Elevator merger

15:45

Swiss elevator manufacturer Schindler has announced that it will oppose any potential merger between rivals Kone and TK Elevator if approved by antitrust authorities. The merger would create the world’s largest lift manufacturer, surpassing the current market leaders.

Schindler CEO Paolo Compagna described the merger as potentially disruptive to the industry, warning that overlapping customer bases, production sites, and teams could create significant challenges for the companies involved. He emphasized that Schindler, along with other industry players, would ensure that antitrust regulations are closely examined in all relevant markets.

Kone and TK Elevator have not yet commented publicly on the reported talks, which were first reported by Bloomberg News. Analysts suggest that the deal could significantly reshape the global elevator market, intensifying competition among major manufacturers.