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KONE Expands Los Angeles Presence with Acquisition of Elevator Dynamics, Inc.

Press Release Published 11-01-2013

KONE Inc., press release, November 1, 2013

KONE Inc. announced today the acquisition of Elevator Dynamics, Inc. (EDI), an independently-owned elevator maintenance, repair and modernization company in Los Angeles. Beginning Nov. 1, elevator operations at the family-owned company as well as the company's 8 employees will be absorbed under the KONE name.

"We're excited to welcome Elevator Dynamics into the KONE family, and offer customers an expanded support network for the quality services EDI delivers," said Larry Wash, EVP and Area Director for KONE Americas. "Acquisitions like these allow us to better serve existing customers, while diversifying our talent base through the retention and support of key employees."

This latest acquisition by KONE not only grows the company's presence in Los Angeles, but also serves as a hub across the West Coast. EDI has built a reputation as a service-focused company that delivers personalized attention to every customer, from small repairs to full-scale modernizations.

Elevator Dynamics, Inc. was established in 1990 by brothers Garth and Bill Thomas.

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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