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KONE to Acquire MIRO Elevators Limited

Press Release Published 12/01/2007

KONE has signed an agreement to acquire MIRO Elevators Limited, an elevator company located in the Greater Toronto Area (GTA), Canada.

The share capital of MIRO Elevators Limited will be transferred to KONE at the end of January 2007.

MIRO Elevators Limited offers elevator modernization, maintenance and service for residential and commercial market segments. It has about 1,200 elevators in its maintenance base. “The acquisition provides significant market density in the Greater Toronto Area (GTA) as well as key personnel resources to continue the profitable growth of our Canadian operations. Over its 20 year history, MIRO has achieved a solid reputation of customer focus and performance excellence”, comments KONE Executive Vice President, North America, Heimo Mäkinen.

Sender:

KONE Corporation

Heimo Mäkinen
Executive Vice President
Area Director, North America

Minna Mars
Senior Vice President,
Corporate Communications & IR

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

KONE is one of the world’s leading elevator and escalator companies. It provides its customers with industry-leading elevators and escalators and innovative solutions for their maintenance and modernization. KONE also provides maintenance of automatic building doors. In 2005, KONE had annual net sales of EUR 3.2 billion and about 27,000 employees. Its class B shares are listed on the Helsinki Stock Exchange.