KONE acquires Italian elevator company Manutenzione Installazione Ascensori SpA (MIA)

KONE Corporation, press release, December 30, 2014

KONE, a global leader in the elevator and escalator industry, has acquired Manutenzione Installazione Ascensori SpA (MIA), an Italian elevator company previously owned by Manutencoop Group. MIA provides maintenance and modernization services and also sells new equipment. Its operations cover most of the Italian market with 12 branches and subsidiaries.

"This acquisition strengthens KONE's presence in the fragmented Italian elevator market and brings new opportunities in the challenging business environment of Southern Europe. We are very pleased for MIA and its highly qualified employees to join us as part of KONE," says Pierre Liautaud, KONE Executive Vice President and Area Director for West and South Europe and Africa.

Since its foundation in 2008 MIA's maintenance base has grown to more than 16,000 units. The company employs approximately 160 people.

For further information, please contact:
Liisa Kivelä, Director, External Communications, KONE Corporation, tel. +358 204 75 4330, media@kone.com

KONE's press releases are available at www.kone.com/press.

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