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

KONE Corporation, 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 San Francisco 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:
Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel. +358 204 75 4775
Jeff Eaton, Director, Acquisitions, KONE Inc., tel. +1 925 984 0019 or
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. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company'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. In 2011, KONE had annual net sales of EUR 5.2 billion and on average 35,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com