KONE Expands Presence in Green Bay, Wis. with Acquisition of TSR Elevator Company

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Oct 04, 2013, 09:00 ET

LISLE, Ill., Oct. 4, 2013 /PRNewswire/ -- KONE Inc. announced today the acquisition of TSR Elevator Company, Inc., an independently-owned elevator company in Green Bay, Wisconsin. Beginning October 1st, elevator operations at TSR – known regionally for its outstanding service – will be absorbed under the KONE name.

"KONE's acquisition of TSR Elevator presents a unique opportunity to diversify our talent base, while improving coverage for existing customers," said Larry Wash, KONE EVP and Area Director for KONE Americas. "Existing TSR customers will enjoy expanded service, as we retain key employees, and support them with enhanced financial, product and technology resources."

Dennis O'Donnell – who has successfully grown TSR Elevator Company, Inc. since he founded the company with his wife, Tammy, in 1992 – will continue to serve a key role in the organization once it has been absorbed by KONE.

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