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  • 2007-02-21 European Commission’s decision on local anticompetitive practices in the elevator and escalator industry
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European Commission’s decision on local anticompetitive practices in the elevator and escalator industry

Stock Exchange Release Published 21/02/2007

The European Commission started an investigation concerning anticompetitive practices in the elevator and escalator market in Europe in 2004. The outcome of the three-year process has been announced today.

The Commission has found KONE’s subsidiaries in Belgium, Luxembourg, Germany and the Netherlands to have been involved in local anticompetitive practices prior to early 2004, and has imposed a EUR 142 million fine on KONE. The fine was imposed for anticompetitive practices in Germany and the Netherlands. KONE did not receive a fine in relation to Belgium and Luxembourg, as KONE was the first company to cooperate with the Commission regarding these countries.

KONE will examine the Commission’s decision and decide on potential further action.

Sender:

KONE Corporation

Klaus Cawén
Executive Vice President

Minna Mars
Senior Vice President,
Corporate Communications & IR

For further information, please contact:
Minna Mars, SVP, Corporate Communications & IR , tel. +358 20475 4501

KONE is one of the world’s leading elevator and escalator companies. It provides customers with industry-leading elevators, escalators and innovative solutions for maintenance and modernization. KONE also provides maintenance services for automatic building doors. In 2006, KONE had annual net sales of EUR 3.6 billion and approximately 29,000 employees. KONE class B shares are listed on the OMX Nordic Exchange Helsinki in Finland.

www.kone.com