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KONE Wins a Remarkable Order for the Marina Bay Sands Integrated Resort in Singapore

Press Release Published 06/02/2008

KONE received a major order from the Las Vegas Sands Corporation for the Marina Bay Sands development in Singapore.

As the most significant high-rise deal for KONE in Singapore, this project demonstrates KONE’s expertise in demanding high-rise solutions and strengthens its position in this segment. The value of the order is approximately EUR 30 million.

The Marina Bay Sands is located in the Marina Bay area in Southern Singapore. It is the first Integrated Resort (IR) project in Singapore including a combination of convention and exhibition space, a wide range of leisure facilities and impressive public spaces. The resort will feature three soaring hotel towers crowned by a Sky Park bridging the towers. The lower buildings will comprise of an ArtScience Museum, retail space, a convention and exhibition center, two theatres and a casino.

“We are very delighted to have been chosen the elevator and escalator partner for this unique and technically demanding high-rise landmark project in Singapore,” says Pekka Kemppainen, KONE EVP and Area Director for the Asia-Pacific region. “We are highly committed to this project and will continue to work with the same dedicated attention to our customer that enabled us to win this order.”

The Marina Bay Sands IR has been designed by Moshe Safdie and Associates, Inc, USA. With its impressive architecture, the building complex will become a landmark attraction. Located in the central Marina Bay, the resort is expected to act as a catalyst for other developments in the area and support Singapore in strengthening its position among the world's greatest destinations.

“KONE is very pleased to be part of this prestigious and significant project in Singapore. It will not only be one iconic building but three for which KONE has been chosen as the supplier for elevator and escalator solutions,” says William Orchard, KONE EVP and Director for Major Projects. “This is a tremendous privilege and confirms KONE’s reputation as a trusted partner.”

KONE will supply both elevators and escalators for the three hotel towers. The installation of the equipment will start in November 2008 and is scheduled to be completed in December 2009. In addition, KONE will supply 13 units of KONE JumpLiftTM elevators for use during the construction.

“KONE JumpLiftTM is a great example of an innovative and value-adding solution, which KONE can offer to its customers. The solution boosts the buildings’ vertical transportation capacity during construction time by growing with the building,” explains Pekka Kemppainen.

Las Vegas Sands Corporation is one of the leading international developers of multi-use integrated resorts headquartered in Las Vegas, Nevada. Other than the Marina Bay Sands, the company is also currently working on integrated resorts in Las Vegas, Macao and in the Hengqin Island in China.

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 2007, KONE had annual net sales of EUR 4.1 billion and approximately 23,500 employees. Its class B shares are listed on the OMX Nordic Exchange in Helsinki, Finland.

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