KONE makes Acquisitions of Advanced Elevator Technologies and Continental Services LLC

The acquisitions expand KONE's presence in Boston, Florida and Alabama markets

April 8, 2015 8:01 AM EDT

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LISLE, Ill., April 8, 2015 /PRNewswire/ -- KONE Corporation (NASDAQ: KNEBV), a global leader in the elevator and escalator industry, today announced the acquisition of Advanced Elevator Technologies, of Boston, which specializes in elevator maintenance, repair and modernization, as well as Continental Services LLC, of Defuniak Springs, Fla., which specializes in elevator maintenance and repair.

The acquisition of Advanced Elevator and Continental strengthens KONE's presence in the Boston metro area and the Florida Panhandle and Southern Alabama markets, respectively.  Both acquisitions increase the company's overall footprint and diversify the talent base in the organization.

"We are very excited to welcome our new customers from Advanced Elevator and Continental Services, both companies have built great reputations by providing high-quality and customer-focused services," said Larry Wash, Executive Vice President, KONE Americas. "These acquisitions allow us to even better serve our customers in Boston, Florida and Alabama markets."

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 2014, KONE had annual net sales of EUR 7.3 billion and at the end of the year over 47,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd. in Finland. For more information regarding this firm see www.kone.us

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SOURCE KONE Corporation

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