KONE Strengthens Its Customer Base in Florida

KONE has acquired an elevator maintenance company called Florida Coast Elevator, Inc. based in Fort Lauderdale, United States. The acquisition significantly increases KONE’s maintenance base in the areas of Fort Lauderdale, Miami and Dade County.

The company will be integrated to KONE’s Miami Branch, located in Miramar, Florida.

"This acquisition provides us with an excellent opportunity to increase our customer base in an area where KONE already has a strong presence," says Vance Tang, KONE EVP and Area Director for the Americas. "Providing outstanding service is a key for KONE and its customers. We offer our customers peace of mind during the entire life-cycle of their buildings and this acquisition strengthens our ability to deliver on that mission."

Florida Coast Elevator is an elevator service company focusing on maintenance, modernizations, repairs and new installations. In addition, the company sells new equipment. Florida Coast Elevator has about 1,200 elevators in its maintenance base and employs 60 people.

"KONE welcomes the opportunity to continue to offer outstanding service to Florida Coast Elevator's customers. We also offer a warm welcome to the new team members of Florida Coast joining KONE through this acquisition," Vance concludes.

About KONE

KONE is one of the world’s leading elevator and escalator companies. It provides customers with industry-leading elevators, escalators and innovative solutions for maintenance and modernization. KONE also provides maintenance services for automatic building doors. In 2006, KONE had annual net sales of EUR 3.6 billion and approximately 29,000 employees. Its class B shares are listed on the OMX Nordic Exchange Helsinki in Finland.

www.kone.com

For further information, please contact:
Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)50 384 9440 or +358 (0)204 75 4501