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| Schindler announces partnership with Olayan Olayan Financing Company (OFC) has acquired from Swiss elevator and escalator maker Schindler a minority stake of 10 percent (10%) in Saudi Elevator Company Ltd. The company will be renamed "Schindler Olayan Elevator Company Ltd." Both partners will be represented equally on the Board of Directors of the company. In 2010, Schindler became the sole owner of Saudi Elevator, acquiring 80% of the shares to add to the 20% that it already owned. The acquisition strengthened the position of the Schindler Group in the Gulf region's largest market. write your comments about the article :: © 2011 Construction News :: home page |