KONE Expands Market Presence in Cancun, Mexico with Acquisition of Mac Puar S.A. de CV

Latin America - español

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Oct 07, 2013, 09:00 ET

LISLE, Ill., Oct. 7, 2013 /PRNewswire/ -- KONE Inc. announced today its acquisition of the Cancun operations of Mac Puar Cim, SL, a Spanish Elevator company with extensive geographical coverage and operations in several countries. Beginning on October 1, all MP elevator service operations in Cancun were absorbed under the KONE name.

"As the market in Mexico continues to present opportunities, KONE has implemented a growth strategy that is a win-win scenario for the company and region," said Alicia Bandala, Managing Director, KONE Mexico. "Strategic acquisitions like Mac Puar, not only strengthen KONE's position in the vital Mexican market, but also allow us to improve coverage for existing customers."

"KONE's rapid growth in Mexico continues to present a wealth of opportunities for us to better serve our customers and support our employees," said Larry Wash, KONE EVP and Area Director for the Americas. "Among other things, the acquisition of Mac Puar will allow us to diversify our talent base as employees gain valuable experience from working with and maintaining new brands of equipment."

The acquisition allows KONE to further integrate its regional teams into the company's acquisition process, helping streamline future expansion.

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

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