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KONE Solidifies Presence in the Philadelphia and Harrisburg Markets With the Purchase of Quality Elevator in the US

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LISLE, Ill., Nov. 1, 2011 /PRNewswire/ -- KONE has acquired the assets of Quality Elevator Sales and Service, Inc. in a deal that will expand KONE's presence in important Pennsylvania markets. Quality Elevator has two locations; one in Pennsauken, New Jersey which provides services in the Philadelphia metropolitan area, in the southern part of New Jersey and Delaware; and another in Dallastown, Pennsylvania which operates in the Harrisburg, York and Allentown areas.

"Quality and KONE will be combining their elevator operations under the KONE name during the next few months and we look forward to the addition of these great new customers and employees," says Vance Tang, EVP and Area Director for KONE Americas.

Quality Elevator, founded in 1976, will contribute 35 years of expertise in elevator installation, maintenance, repairs and modernization to the joint operations. It currently employs approximately 65 people.

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 2010, KONE had annual net sales of EUR 5 billion and approximately 33,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com

SOURCE KONE



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