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KONE Acquires Maine Elevator Specialists Inc.

Press Release Published 09/06/2018

Acquisition expands KONE’s operations in Portland, Maine.

Windham, Maine September 6, 2018 – KONE, a global leader in the elevator and escalator industry, today announced it has acquired the service and repair business of Maine Elevator Specialists Inc. in Windham, Maine, including its operations throughout the greater Portland metropolitan area.

Maine Elevator was founded in 1989 and has built a strong reputation performing high quality service, modernization and repair work. This acquisition strengthens KONE’s local operation and brings additional talent and experience to KONE’s New England team.

“KONE welcomes the Maine Elevator employees and looks forward to continuing to deliver outstanding service for our customers,” said Larry Wash, executive vice president for KONE Americas. “The acquisition of Maine Elevator both strengthens our market position and increases our ability to offer innovative smart building solutions and industry expertise to an even larger customer base.”

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 2019, KONE had annual sales of EUR 10 billion, and at the end of the year approximately 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

Media Contact:

Patrick O’Connell
patrick.oconnell@kone.com

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