Schindler selects LTTS for connectivity initiatives
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Ebikon, Switzerland-based elevator manufacturer Schindler has picked up L&T Technology Services Limited (LTTS) for digital engineering capabilities.
LTTS, the listed engineering and research and development subsidiary of Larsen & Toubro, offers consultancy, design, development and testing services across product and process development life cycle.
According to the agreement, the Vadodara based company will be responsible for product development, innovation and engineering services and solutions for Schindler’s digitization and connectivity initiatives.
Founded in 1874, Schindler makes elevators, escalators, and moving walks as well as provides maintenance and modernization services.
“Innovations such as digital twin technology, build to automation, and the advancements in wireless connectivity are accelerating Industry 4.0 adoption. Schindler is a pioneer in the elevator and escalator industry and through this alliance, we commit to supporting Schindler in matching new-age innovations with traditional engineering,” Prabhakar Shetty, global head of digital manufacturing services at LTTS said in the statement issued by the company.
LTTS offers its services across sectors including industrial products, medical devices, transportation, telecom and hi-tech and process industries.
The company reported a 19% decrease in net profits at Rs 165.5 crore for the quarter ending September 2020. It also announced eight multi-million dollar deals during the period, including six deals with a total contract value of over $25 million.
Recently, Amazon Alexa Voice Service signed up LTTS as a consulting and professional services provider.