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KONE Oyj: KONE strengthens its presence in East Africa

2014-08-01 08:00:00
Ticker Giełda ISIC Kraj Miasto
KNEBV XHEL Finland Espoo

Press release, August 1, 2014

KONE, a global leader in the elevator and escalator industry has acquired the

elevator and escalator business of Marryat & Scott (Kenya) Ltd. and Marryats

East Africa Limited,  its authorized distributors in East and Central Africa.

These acquisitions will help KONE expand its presence in the African market and

improve the availability of KONE's people flow solutions in Kenya, Uganda,

Rwanda and Tanzania.

Marryat & Scott (Kenya) Ltd. has operated in the African elevator and escalator

market for over 50 years and acted as KONE's distributor in the country since

2003. Marryats East Africa Limited has been KONE's distributor in Uganda since

2003. Together, the companies employ over 120 employees.

"Africa is urbanizing rapidly and new housing and infrastructure building

projects are emerging as a result. This creates business opportunities for

KONE," says Pierre Liautaud, Executive Vice President and Area Director for KONE

West and South Europe and Africa. "These acquisitions are in line with our long-

term business strategy, and we look forward to bringing reliable products and

services to Kenya, Uganda and their neighboring regions," Liautaud adds.

The acquisitions were booked in the third quarter of 2014.

Previous KONE press releases are available at www.kone.com/press including:

* January 2, 2013: KONE acquires its Israeli distributor Isralift

For further information, please contact:

Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel.

+358 204 75 4775, media@kone

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 2013, KONE had annual net

sales of EUR 6.9 billion, and at the end of the year over 43,000 employees. KONE

class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.


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Source: KONE Oyj via GlobeNewswire