LISLE, Ill., June 1, 2011 /PRNewswire/ — KONE has acquired the business operations of Southwest Elevator Company, an independent elevator service company in Arizona with operations in both Tucson and Phoenix. Through this acquisition KONE strengthens its presence and capabilities in Arizona.

Southwest and KONE are combining their elevator operations under the KONE name during the coming months. “We are thrilled to be adding great new customers and employees in an important U.S. market for KONE that has clear long-term growth potential,” says Vance Tang, KONE EVP and Area Director for the Americas.

Southwest Elevator Company is privately owned and provides elevator maintenance, repairs and modernization. It is the largest independent elevator company in the state of Arizona.

Southwest, under the leadership of Tom and Todd Cavinder, has consistently grown its elevator maintenance business by delivering effective and reliable customer service. “The combined Southwest – KONE teams welcome the opportunity to continue offering outstanding service to Southwest and KONE customers. We also offer a warm welcome to our new team members from Southwest Elevator joining KONE through this acquisition,” Tang concludes.

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