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Finnish elevator producer KONE purchases German company

Xinhua, February 23, 2015 Adjust font size:

Finnish elevator and escalator manufacturer KONE announced on Monday that it has acquired German elevator company Janzhoff Aufzuge GmbH.

Founded in 1945 and headquartered in Dortmund, Janzhoff Aufzuge GmbH sells elevators as well as maintenance and modernization services. The company currently has about 100 employees.

"With this acquisition we expect to strengthen our position in the region. It brings a customer base which offers new opportunities in maintenance, modernization and new installations," said Axel Berkling, managing director at KONE Germany, in a press release.

KONE has not disclosed the purchase price.

At the end of last year, KONE purchased an Italian elevator company named Manutenzione Installazione Ascensori SpA (MIA).

Founded in 1910, KONE is one of the largest elevator manufacturers in the world. The company now has 1,000 offices and 43,000 employees in more than 50 countries and regions. Kone's sales in 2014 amounted to 7.33 billion euros (about 8.29 billion U.S. dollars). Endit