KONE acquires American Capital Elevator Services and strengthens its presence and offerings in the Washington D.C. market

Press Release Published 01.05.2016

KONE Corporation, press release, January 5, 2016

KONE, a global leader in the elevator and escalator industry, today announced it has acquired the service, repair and modernization business of Capital Elevator Services, in Waldorf, Maryland, the US. Capital Elevator Services operates in the greater Washington D.C., Northern Virginia and suburban Maryland areas.

With its extensive service base and highly experienced staff members, Capital Elevator Services adds depth and talent to KONE's service, repair and modernization operations in the Washington D.C. Metropolitan area.

"As we continue down our path of industry-leading innovation and strategic growth in services, the D.C. region represents a key market for KONE, and we are eager to welcome Capital Elevator Services' employees and customers to our company," said Larry Wash, Executive Vice President for KONE Americas. "Capital has built a shining reputation, with highly qualified employees and efficient operations. Culturally, this acquisition aligns perfectly with KONE."

Previous KONE press releases are available at www.kone.com/press including:
September 2, 2015: KONE acquires its Croatian distributor Lift Modus d.o.o.
July 20, 2015: KONE acquires German elevator company Klostermann Aufzüge GmbH
February 23, 2015: KONE acquires German elevator company Janzhoff Aufzüge GmbH

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

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.

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