KONE Strengthens Position in the Nashville, Tennessee, Market Through the Acquisition of Mid-Tenn Elevator Co.

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Apr 02, 2010, 11:29 ET

LISLE, Ill., April 2 /PRNewswire/ -- KONE has acquired the assets of Mid-Tenn Elevator Company, an independent elevator service entity based near Nashville, Tennessee. This improves KONE's existing strong position in the Nashville market. Mid-Tenn Elevator has developed a reputation for delivering quality in all aspects of their service business including maintenance, repair and modernization.

"We are very pleased to solidify our strong position in the Nashville market together with a solid partner, Mid-Tenn Elevator," says Vance Tang, KONE EVP and Area Director for the Americas. "KONE welcomes the opportunity to continue to offer outstanding service to Mid-Tenn Elevator's customers."

KONE will absorb Mid-Tenn's elevator operations under the KONE name in April.

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

SOURCE KONE