KONE to Open AllenPlace Facility

Texas facility will house the elevator company's research and development, engineering and light manufacturing supporting KONE Americas

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KONE

Jun 16, 2016, 08:05 ET

ALLEN, Texas, June 16, 2016 /PRNewswire/ -- KONE, a global leader in the elevator and escalator industry, today announced the opening of its newest U.S. facility, KONE AllenPlace, located at 450 Century Parkway in Allen, TX. The grand opening will take place on Monday, June 20 with an official ribbon cutting ceremony. The 173,952 square-foot facility houses KONE Americas' supply operations, major project engineering, research and development department, and other product and installation support functions. The facility also features a 128-foot tall test tower with six elevator shafts to evaluate prototypes and new components before they go into production.

"As the world's population continues to urbanize and move into cities, there's a growing demand for taller, smarter buildings and more innovative vertical transportation solutions," said Larry Wash, executive vice president for KONE Americas. "This new facility is evidence of our commitment to that need. We're investing in our supply chain infrastructure, research and development, and importantly, in our people, so we can support our growing North American business."

The facility will boost the local economy, bringing as many as 80 jobs to Allen. Texas-based KONE employees will relocate from the former office location at One Allen Center. Jussi Oijala, senior vice president at KONE, will serve as the site leader, driving KONE's vision for the facility.

"We're extremely proud to be growing our research and development, along with manufacturing capabilities in Allen," Oijala said. "The additional office space and improved testing facilities will accelerate our growth, and deliver innovative People Flow® solutions for our customers."

The company will soon announce a new elevator product to the U.S. and Canadian markets. KONE MonoSpace® 500, a machine room-less (MRL) elevator, was developed to make the best better, delivering even greater eco-efficiency, better ride comfort and innovative design options. KONE pioneered the MRL elevator technology twenty years ago. Today, KONE is an industry leader with hundreds of thousands of installed units worldwide.

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2015, KONE had annual net sales of EUR 8.6 billion, and at the end of the year close to 50,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland

www.kone.com

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SOURCE KONE