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Valtra Wins Major Order in Iran

Press Release Published 23/06/2003

Valtra, which is part of the KONE Materials Handling division in KONE, has received an order from Iran for 500 tractors.

The tractors are 140-horsepower, 6-cylinder Valtra 8400 models. The order includes spare parts and extensive training. The contract is the largest single order ever booked by Valtra.

The tractors will be built in Valtra’s Suolahti factory in Finland. They will be delivered to Iran during the year 2003. Local farmers can purchase tractors affordably through financing available from the Iranian Agricultural Bank. The Iranian Ministry of Agriculture has estimated that the country needs more than 15,000 new tractors during the next few years to meet its agricultural sector’s productivity improvement targets.

Sender:

KONE Corporation
Tapio Hakakari
Secretary to the Board of Directors

Outi-Maria Liedes
Senior Vice President
Corporate Communications & IR

For further information, please contact:
Ilkka Hakala, President, Valtra Inc., tel. +358 (0)400 824 696
Outi-Maria Liedes, SVP, Corporate Communications & IR, KONE, tel. +358 (0)204 75 4501

KONE is a global service and engineering company that specializes in moving people and goods. Annual net sales total EUR 5,500 million, and we employ nearly 35,000 people. KONE's B shares are listed on the Helsinki Exchanges.

www.kone.com