Competition law related damage claims served in Germany

Stock Exchange Release Published 18/01/2011

Certain companies and public entities have filed civil damage claims against KONE’s German subsidiary KONE GmbH and certain other elevator and escalator companies operating in Germany. The claims relate to activities on the German market and are a result of the decision by the European Commission in 2007 on the respective companies concerning alleged anticompetitive practices in the local markets before early 2004.

The total capital amount claimed jointly and severally from all of the defendants together amounts to 71 million euros.

KONE’s position is that the claims are without merit.

In February 2007 the European Commission found that KONE’s subsidiaries in Belgium, Luxembourg, Germany and the Netherlands together with the other leading elevator and escalator companies operating in these countries had been involved in anticompetitive practices, and consequently imposed fines on these companies based on anticompetitive practices in the local markets before early 2004. KONE has lodged an appeal concerning the decision with the General Court of the European Union. The Commission’s decision does not by itself, however, mean that KONE or other elevator and escalator companies would have caused damage to their customers.

The claims and the related evidence will be considered separately. The duration of the proceedings is not known.

KONE will report on the matter, when necessary, separately or in connection with its interim reporting.

About KONE
KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company's objective is to offer the best people flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. In 2009, KONE had annual net sales of EUR 4.7 billion and approximately 34,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

For further information, please contact:
Anne Korkiakoski, Executive Vice President, Marketing and Communications,
tel. +385 204 75 4775 or +358 50 67411


KONE Corporation

Klaus Cawen
Executive Vice President
Legal Affairs

Anne Korkiakoski
Executive Vice President
Marketing and Communications

2011-01-18 Competition law related damage claims served in Germany

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