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A court of arbitration has today approved the security set by Kone
Finance in accordance with the Finnish Companies Act, Chapter 14,
Paragraph 21, for the payment of the redemption of the shares in
Partek Corporation. The ownership right to the minority shareholdings in Partek Corporation has been transferred to Kone Finance. Kone Finance owns all shares in Partek.
On December 3, 2002, Partek filed an application with the listing
committee of the Helsinki Exchanges for its shares to be delisted from the main list of the Helsinki Exchanges when Kone Finance receives the ownership right to the minority holdings.
The listing committee of the Helsinki Exchanges approved Partek's
application on December 13, 2002. The company's shares will be removed from the main list of the Helsinki Exchanges in accordance with a separate notification by the Helsinki Exchanges.
Secretary to the Board of Directors
Senior Vice President
Corporate Communications & IR
For further information, please contact:
Senior Vice President, Corporate communications & IR, KONE Corporation
tel. +358 204 75 4501
Partek, which is part of KONE, is a leading engineering company that supplies products and services for professionals who move and load goods, harvest forests and cultivate the fields. Partek has production in 15 countries and the company is represented in more than 100 countries. Partek's net sales are EUR 2.7 billion and the number of employees is 12,500 people.