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KONE Acquires Ross Elevator Inc.

Press Release Published 08/03/2021

Acquisition expands KONE’s operations in both Cleveland and Akron, Ohio

Cleveland, OH Aug. 3, 2021 – KONE, a global leader in the elevator and escalator industry, today announced it has acquired the service and repair business of Ross Elevator Inc. in Eastlake, Ohio, including its operations throughout the greater Cleveland metropolitan area and stretching south to Akron.

Ross Elevator was founded in 1969 and has built a strong reputation performing high quality service, modernization and repair work. This acquisition strengthens KONE’s local operations and brings additional talent and experience to KONE’s Cleveland team. Their rich history will bring us highly qualified industry professionals and be a welcome addition to our local operations.

“KONE welcomes the Ross Elevator employees and looks forward to continuing to deliver outstanding service for our customers,” said Ken Schmid, executive vice president for KONE Americas. “The acquisition of Ross 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.”

2021-08-03 KONE Acquires Ross Elevator Inc

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 2021, KONE had annual sales of EUR 10.5 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

Media Contact:

Kevin Metz

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