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KONE acquires Spanish elevator company ASBA Mantenimientos

Press Release Published 08/02/2010

KONE has acquired ASBA Mantenimientos S.L., a Spanish elevator company. The Barcelona-based company maintains elevators, sells new equipment and installs elevators in existing buildings. ASBA Mantenimientos has 1,800 elevators in its maintenance base and employs 35 people.

“This acquisition strengthens KONE’s position in Spain and helps us improve our maintenance and modernization operations in the Catalonia region,” says Eric Maziol, EVP and Area Director for South and West Europe and the Middle East, KONE.

ASBA’s operations will be integrated into KONE’s current operations in Spain.

About KONE

KONE, one of the global leaders in the elevator and escalator industry, was founded in 1910 and celebrates its centennial anniversary in 2010. 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.

Providing industry-leading elevators, escalators and innovative solutions for modernization and maintenance, KONE has been committed to understanding the needs of its customers in various segments for the past century. 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

For further information, please contact:

Anne Korkiakoski, Executive Vice President, Marketing & Communications, KONE.

tel. +358 (0)204 75 4787