The Garaventa company of Goldau in central Switzerland and Austria's Doppelmayr have merged to form the world's largest ropeway producer.
A statement on Friday said the two companies wanted to build a powerful organisation with the aim of continuing to develop and improve ropeway technolgies. The contract was signed on Wednesday.
The majority shareholder of the new group, which will have its headquarters in Goldau, is Doppelmayr Holding of Wolfurt in Austria.
Garaventa's chief executive officer, Werner Inderbitzin, said the merger took into account the continuing trend towards internationalisation and secure future business in the long term.
The statement added that since conventional ropeway markets wetre saturated, one goal was to increase exports, in particular by developing new fields of application.
Garaventa's stairlift division is not affected by the merger.
swissinfo with agencies