2014

KONE Acquires Elevator Service Company in Oregon, USA

LISLE, Ill., June 1 /PRNewswire/ -- KONE has acquired Reliant Elevator Company, the largest independent elevator service company in the State of Oregon, USA. Through this acquisition KONE strengthens its position as one of the leading elevator and escalator companies in the Portland metropolitan area and throughout Oregon.

Reliant Elevator Company focuses on elevator maintenance, repairs and modernization. The company has 1,400 elevators in its maintenance base and currently employs 18 people. "We are thrilled to be adding these new customers and employees in this important market," says Vance Tang, KONE EVP and Area Director for the Americas.

Reliant has consistently grown their elevator maintenance business by delivering quality customer service. "The combined Reliant – KONE teams will work hard to further build the already strong performance and customer relationships," Tang concludes.

Reliant and KONE are combining their elevator service operations under the KONE name during the coming months.

About KONE

KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company's objective is to offer the best People Flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. In 2009, KONE had annual net sales of EUR 4.7 billion and approximately 34,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland. Founded in 1910, KONE celebrates its centennial anniversary in 2010.

www.kone.com

Previous press releases concerning KONE's acquisitions in the USA are available at www.kone.com

SOURCE KONE



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