Otis Elevator Korea (OTIS), a subsidiary of Otis Worldwide Corporation (OTIS) and a maker of elevators and escalators, said on Friday that it has inked a deal to buy Schindler Elevator Company, Ltd. in Korea.
The acquisition of Schindler Elevator will complement Otis' current customer coverage, portfolio, and field execution capacity, enabling Otis to better serve customers in Korea.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.