KONE Corporation has signed an agreement to sell its shares of Oy Sisu Auto Ab to Suomen Autoteollisuus Oy, which is a company owned jointly by a Finnish investment group and the operating management of Oy Sisu Auto Ab.
KONE will become a minority shareholder in the company with a holding of less than 20 percent. The transaction will not affect KONE’s result.
Oy Sisu Auto Ab will hold an information session on March 5, 2004 at 13:30 pm. at Sisu Airport, Ansatie 7, 01740 Vantaa, Finland.
Secretary to the Board of Directors
Executive Vice President,
Finance and Information Services
For further information, please contact:
Kari Heinistö, Senior Executive Vice President,
Kone Cargotec, tel. +358 (0)400 530 820
Nils Hagman, Managing Director, Oy Sisu Auto Ab,
tel. +358 (0)400 775 024
KONE Corporation is a global service and engineering company that specializes in moving people and goods. It comprises two divisions: KONE Elevators & Escalators and Kone Cargotec. KONE Elevators & Escalators sells, manufactures, installs, maintains and modernizes elevators and escalators, and services automatic building doors. Kone Cargotec supplies products and services to facilitate moving and loading cargo. KONE's B shares are listed on the Helsinki Exchanges.
Oy Sisu Auto Ab manufactures heavy Sisu trucks and imports Renault trucks. Sisu Auto handles the sales, service and spare parts for both brands. With a network of 42 services centers around Finland, Sisu Auto has the country’s widest service coverage. The company’s net sales are approx. EUR 125 million and it employs 540 people.