KONE acquires CNIM’s elevator and escalator service operations in Canada

KONE has acquired the assets related to the elevator and escalator service business of CNIM Canada Inc. including all of their Canadian maintenance contracts. CNIM Canada maintains approximately 1,300 units in the Montreal, Toronto and Ottawa metropolitan areas.

CNIM Canada has developed a strong market presence in Canada through both its own proprietary escalator products and its attention to customer service. Through this acquisition KONE solidifies itself as one of the largest elevator and escalator companies in Canada.

“We are thrilled to be adding great new customers and employees in Canada,” says Kelly Leitch, President and CEO of KONE Canada.

Vance Tang, Executive Vice President and Area Director for KONE Americas adds, “Our team in Canada has achieved significant business growth over the past year and we are pleased with their accomplishments. We believe our efforts together will result in continued customer satisfaction.”

For further information, please contact:

Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel. +358 204 75 4775

Jeff Eaton, Director, Acquisitions, KONE Inc., tel. +1 925 984 0019

Kellie Lindquist, Marketing Manager, KONE Inc., tel. +1 630 955 4202

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.

www.kone.com