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KONE Expands Presence in Green Bay, Wisconsin with Acquisition of TSR Elevator Company

Press Release Published 10-04-2013

KONE Inc., press release, October 4, 2013

KONE Inc . announced today, the acquisition of TSR Elevator Company, Inc., an independently-owned elevator company in Green Bay, Wisconsin. Beginning October 1st, elevator operations at TSR - known regionally for its outstanding service - will be absorbed under the KONE name.

"KONE's acquisition of TSR Elevator presents a unique opportunity to diversify our talent base, while improving coverage for existing customers," said Larry Wash, KONE EVP and Area Director for KONE Americas. "Existing TSR customers will enjoy expanded service, as we retain key employees, and support them with enhanced financial, product and technology resources."

Dennis O'Donnell - who has successfully grown TSR Elevator Company, Inc. since he founded the company with his wife, Tammy, in 1992 - will continue to serve a key role in the organization once it has been absorbed by KONE.

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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