KONE to review its Door Business, considering potential sale; Door Business accounted for 2% of company revenue in 2023, provides maintenance, repair, modernization, and new equipment solutions for pedestrian and industrial doors

KONE Corporation , press release, September 10, 2024

KONE Corporation , a global leader in the elevator and escalator industry, plans to initiate a review of its Door Business to assess its optimal structure and synergies, including a potential sale of the business. The review aims to evaluate the best environment for growing the business in a way that benefits its customers, employees, and other stakeholders. As part of this, KONE is considering incorporating the Door Business under its own legal structure.

KONE Door Business provides maintenance, repair, modernization, and new equipment solutions for pedestrian and industrial doors. In 2023, KONE Door Business accounted for approximately 2% of KONE Group revenue.

The contemplated review and actions are subject to local legal requirements and consultation of employee representatives.

For further information, please contact: 

Hanna Rutanen , Senior Vice President, Communications, KONE Corporation , tel. +358 41 507 1361,media@kone.com

About KONE

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2023, KONE had annual sales of EUR 11.0 billion , and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland .

www.kone.com

KONE to initiate a review of its Door Business

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Kone Oyj published this content on 10 September 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on September 10, 2024 at 13:34:59 UTC .