2014

KONE Expands Los Angeles Presence with Acquisition of Elevator Dynamics, Inc.

LISLE, Ill., Nov. 1, 2013 /PRNewswire/ -- KONE Inc. announced today the acquisition of Elevator Dynamics, Inc. (EDI), an independently-owned elevator maintenance, repair and modernization company in Los Angeles. Beginning Nov. 1, elevator operations at the family-owned company as well as the company's 8 employees will be absorbed under the KONE name.

"We're excited to welcome Elevator Dynamics into the KONE family, and offer customers an expanded support network for the quality services EDI delivers," said Larry Wash, EVP and Area Director for KONE Americas. "Acquisitions like these allow us to better serve existing customers, while diversifying our talent base through the retention and support of key employees."

This latest acquisition by KONE not only grows the company's presence in Los Angeles, but also serves as a hub across the West Coast. EDI has built a reputation as a service-focused company that delivers personalized attention to every customer, from small repairs to full-scale modernizations.

Elevator Dynamics, Inc. was established in 1990 by brothers Garth and Bill Thomas.

For further information, please contact:
Jeff Eaton, Director, Acquisitions, KONE Inc., tel. +1 925.984.0019 or
Kellie Lindquist, Marketing Manager, KONE Inc., tel. +1 630.955.4202

Previous press releases on KONE acquisitions are available at www.kone.com/press including:

Oct. 4, 2013 KONE Expands Presence in Green Bay, Wisconsin with Acquisition of TSR Elevator Company 
July 2, 2013 KONE buys Empire Elevator, further strengthening position in San Francisco 
May 1, 2013 KONE adds market share in Alabama through the acquisition of EMR, Inc.

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 2012, KONE had annual net sales of EUR 6.3 billion and around 40,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.us

SOURCE KONE Inc.



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