KONE Acquires Downey Goodlein Elevator Corporation

Acquisition Expands KONE's Operations in upstate New York

November 1, 2016 8:05 AM EDT

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ROCHESTER, N.Y., Nov. 1, 2016 /PRNewswire/-- KONE, a global leader in the elevator and escalator industry, today announced it has acquired the service and repair business of Downey Goodlein Elevator Corporation, in Rochester, New York. Downey Goodlein operates throughout the Rochester metropolitan area.

Downey Goodlein was founded in 1965 and has built a reputation of performing high quality service, modernization and repair work. This acquisition brings KONE into a new market and provides the talent and experience to expand the service, modernization and new installation business in upstate New York.

"The acquisition of Downey Goodlein supports our goal of growing KONE's presence across key geographic regions like the Northeast," said Larry Wash, executive vice president for KONE Americas. "The Rochester New York area represents a new market for KONE and we're excited to welcome Downey Goodlein employees in helping us bring innovative People Flow solutions to our customers."

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

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SOURCE KONE



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