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KONE wins third contract with Dormitory Authority of the State of New York (DASNY)

Press Release Published 04-23-2014

Company to modernize Hunter College Main Campus with eco-efficient escalator solution

KONE Corporation, press release, Sept. 23, 2014

KONE, a global leader in the elevator and escalator industry, has won a contract to improve people flow and energy efficiency at a City University of New York site. As part of the order, KONE will modernize 18 escalators at Hunter College's main campus, located at 920 Lexington Ave. in Manhattan's Upper East Side.

The escalators will be modernized using the KONE EcoMod™ solution-an innovative and systematic approach to replacing the entire workings of escalators, increasing building safety and energy efficiency without expensive, disruptive truss removal. At least one escalator per floor will remain in operation throughout the installation to preserve people flow for building residents as they rush to class or other activities.

“"Modernization is increasingly important to boosting asset values and ensuring escalators run safely and reliably throughout their lifecycles," said Larry Wash, KONE EVP and Area Director for the Americas. "We're honored to again work with DASNY to provide this benefit for its buildings."

The project-won via a publicly-advertised, competitive bid-is expected to be completed in December 2016. This is the third DASNY project to implement KONE's EcoMod solution, with others located at Borough of Manhattan Community College (BMCC) and Baruch College.

For further information, please contact:
For further information, please contact: Patrick O'Connell, Director, Marketing and Communications, KONE Inc., tel. +1 317 374 4960

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 2015, KONE had annual net sales of EUR 8,6 billion, and at the end of the year close to 50,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd. in Finland.

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