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KONE ranked as one of the world’s most innovative companies

Press Release Published 23/08/2011

U.S.-based business magazine Forbes has ranked KONE the 39th most innovative company in the world. KONE is the only elevator and escalator company to have made it to the top 50.

Forbes magazine’s ranking is based on a metric called the “Innovation Premium”. It is a grade bestowed by Forbes upon a company as a measure of the premium the stock market has placed on the value of the company due to expectations of future innovative products, services, and new markets that will generate even larger income streams.

As the Forbes ranking shows, innovation is one of the key factors to KONE’s success. The company has always invested into its innovations with a view to the long term.

“Our mindset is that of a challenger. We are all the time intensively looking for opportunities to develop our products, services and processes in order to deliver a better customer and user experience” says Matti Alahuhta, CEO & President, KONE.

A strong example of KONE’s industry-leading innovation is the KONE MonoSpace®. This elevator system eliminates the need for a machine room and consumes 70% less energy than a hydraulic drive and 40% less than a geared traction elevator drive, making it the most eco-efficient and space-efficient solution on the market today. Another example is the KONE MaxiSpace™ elevator, which eliminates the need of a counterweight in the elevator shaft.

KONE designs its solutions to meet customer needs of increasingly energy-efficient products. KONE has reduced the energy consumption of its volume elevators by 50 percent in 2008–2010. This was achieved by developing eco-efficient hoisting machines, regenerative drives, LED lights, and standby solutions.

In the field of service innovations, KONE has created for example Modular-Based Maintenance, a harmonized process for preventive maintenance of elevators.

The list of world’s most innovative companies can be viewed on forbes.com.

For further information, please contact:

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

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 2010, KONE had annual net sales of EUR 5 billion and approximately 33,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com