KONE strengthens its position in Madrid, Spain by acquiring Ascensores R Casado, S.A.

Press Release Published 12/19/2017

KONE Corporation, press release, December 19, 2017

KONE Corporation, a global leader in the elevator and escalator industry, has acquired Ascensores R Casado, S.A., a Spanish lift company providing installation, maintenance and modernisation services. Ascensores R Casado currently has over 1,300 lifts in service.

"Madrid represents a key market for KONE in Spain and this acquisition will strengthen our market position in the region," says Pierre Liautaud, Executive Vice President for KONE South Europe, Middle East and Africa. "We welcome all the employees and customers of Ascensores R Casado to KONE."

Previous KONE press releases are available at www.kone.com/press including:
December 11, 2017: KONE acquires Hong Kong based Shan On Engineering Company Limited
July 6, 2017: KONE acquires Alois Kasper GmbH in Germany
September 29, 2016: KONE acquires a majority stake in Spanish elevator company Citylift

For further information, please contact:
Liisa Kivelä, Director, Communications, KONE Corporation, tel. +358 204 75 4330, media@kone.com

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 2016, KONE had annual net sales of EUR 8.8 billion, and at the end of the year over 52,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

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