SCHINDLER SQUEEZED: #Switzerland's Schindler Group just postponed its own capital markets day. The stated reason: "shifting competitive dynamics."
The trigger came in April. Finland's KONE announced a €29.4 billion takeover of Germany's thyssenkrupp Elevator.
That deal instantly reshuffles the global hierarchy. #Kone leaps from third place to first.
Otis Elevator Co., the longtime leader, gets pushed to second. #Schindler, based in Ebikon, drops to third.
The new Kone-TKE combination would employ 100,000 people and post €20.5 billion in revenue. Schindler's own annual revenue: CHF 11 billion, a fraction of that scale.
An industry that was already heavily consolidated just lost one of its four major players, and the pressure has landed squarely on Schindler.
Can the last independent Swiss elevator giant hold its ground?