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KONE strengthens its presence in East Africa


August 1, 2014 - London

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:

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.

www.kone.com




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: KONE Oyj via Globenewswire

HUG#1845687

GlobeNewswire

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