Page 8 - Finland and the United States - Partners in Investment, Innovation and Trade

KONE in the United States:
Improving the Flow of Urban Life
KONE, a global leader in the elevator and escalator industry, has operated in the United States
since 1994, when it acquired Montgomery Elevator Company, the fourth largest elevator company in the United States
at the time. Today, KONE employs
5,200 people in the United States, and it can be found in all major cities, with 65 branches across the country.
Two of KONE’s global research and development centers are located in the United States—one in Coal Valley, Illinois, and the other in Allen, Texas. The new facility in Allen (at 172,223 ft2) also houses KONE Americas’ supply operations, including a manufacturing unit, major projects engineering, and other product and installation support functions.
KONE Americas is headquartered in Lisle, Illinois, and its operations span the United States, Canada, and Mexico.
Why is the United States an important market for KONE? The United States is one of the largest markets for elevators and escalators in the world. In 2016, over 20,000 new orders for elevators and escalators were placed in the country. All market
segments of the new equipment business have grown significantly, particularly
the residential segment. Demand for high-rise buildings has also been strong during recent years as American cities are becoming increasingly denser and buildings higher.
Over one million elevators and escalators are in use in the United States, making it the second largest service market in the world.
There is also substantial potential for the modernization of aging equipment. KONE estimates that approximately 50% of all the elevators in the country are more than 20 years old, and these will need to be replaced at some point with new ones.
The United States is a very important market for KONE, which has recently expanded its operations in the country with the opening of the facility in Allen, Texas, in 2016.
About KONE
KONE’s mission is to improve the flow
of urban life. KONE provides elevators, escalators and automatic building doors, and solutions for maintenance and modernization, which add value to the life cycle of any building.
The United States is one of the largest markets for elevators and escalators in the world.
In 2016, KONE had annual net sales of USD 9.7 billion and by the end of the year it had over 52,000 employees globally. KONE class B shares are listed on Nasdaq Helsinki Ltd. in Finland.
www.kone.com
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Photo: KONE