KONE steps up in Asia
Finnish lift and escalator giant KONE has acquired Hong Kong-based Shan On Engineering Company Limited to boost its position in Asia.
Shan On specialises in lift maintenance, modernisation and installation services, and its maintenance base currently comprises approximately 1 000 lifts.
Previously, KONE owned just over a third of the company and has now bought the remaining shares. The acquisition is expected to strengthen KONE’s market position in the region.
“We warmly welcome Shan On and its skilled employees to our organisation,” says William B. Johnson, executive vice president for KONE Greater China. “The company has an excellent reputation and a wide client base in Hong Kong, and we are looking forward to continuing the good relationships with the customers.”
Earlier this year, KONE acquired Alois Kasper, a company based in Nonnweiler, southwestern Germany.