LISLE, Ill., Aug. 11, 2011 /PRNewswire/ — KONE has acquired A-Lift Elevator, Inc., an independent elevator company with operations in Portland, Oregon. This acquisition further improves KONE’s strong position in the Portland market.

KONE absorbed A-Lift’s operations in July and both entities continue to work on the successful transition of A-Lift’s customers to KONE.

A-Lift was established in 1977 by John Paulsen and the company continued to grow and develop with the capable leadership of his sons John “Andy” and, in recent years, Joel. As a privately owned independent elevator company, A-Lift focused on elevator maintenance, repairs and modernization.

“We are pleased to continue to offer outstanding service to our new customers from A-Lift. We also offer a warm welcome to the new team members from A-Lift who joined KONE through this acquisition,” said Vance Tang, KONE EVP and Area Director for the Americas.

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 2010, KONE had annual net sales of EUR 5 billion and approximately 33,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com

SOURCE KONE