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Hiab to Sell its Tipper and Dumper Bodies Business, Zetterbergs

Press Release Published 08/02/2005

Hiab, which belongs to Kone Cargotec, is to sell the entire shareholding of the Swedish Zetterbergs Produkt AB to its operative management.

The transaction includes operations in Östervåla, Sweden and Zetterbergs Polska Sp. Z.o.o., located in Lodz, Poland. Zetterbergs’ product range comprises tipper and dumper bodies as well as other truck bodies, the production and sale of which will continue under the Zetterbergs brand name.

Zetterbergs’ had net sales in 2004 of EUR 15 million and 143 employees. The transaction is subject to competition authority approval. The deal will not have a significant affect on Kone Cargotec’s result.

Sender:

KONE Corporation

Tapio Hakakari
Director, Secretary to the Board

Minna Mars
Senior Vice President,
Corporate Communications & IR

For further information, please contact:
Kari Heinistö, Senior Executive Vice President,
Kone Cargotec, tel. +358 (0)400 530 820
Pekka Vartiainen, President, Hiab, tel. +358 (0) 40 755 6008

www.konecorp.com
www.hiab.com