KONE strengthens market presence through the acquisition of Ascent Elevator in San Francisco


KONE Inc., press release, December 3, 2012

KONE has acquired the San Francisco-based business of Ascent Elevator Services, Inc., an independent elevator company with a significant share of the service market in the Bay Area. Ascent has operated in the attractive San Francisco market since 2004.

Ascent and KONE will combine elevator operations under the KONE name during the next few months. "We are thrilled to be adding great new customers in the very important San Francisco market," said Larry Wash, KONE EVP and Area Director for the Americas.

"The combined Ascent and KONE teams welcome the opportunity to continue to provide outstanding service to Ascent and KONE customers. We also extend a warm welcome to the new team members who will be bringing a broad range of valuable talents and many decades of collective experience to KONE through this acquisition," Wash concludes.

For further information, please contact:
Jeff Eaton, Director, Acquisitions, KONE Inc., tel. +1 925 984 0019
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. KONE'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. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. 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 OMX Helsinki Ltd. in Finland.

For more information, see www.kone.us