Electronics Production | December 14, 2017
Kone acquires Hong Kong based company
Kone Corporation has acquired Shan On Engineering Company Limited in Hong Kong.
Founded in 1973, Shan On is specialized in elevator maintenance, modernization and installation services and has approximately 1’000 elevators in its maintenance base. Previously, Kone owned 35.3% of the company and has now bought the remaining 64.7% shareholding. With this acquisition, Kone will strengthen its market position in the region. "We warmly welcome Shan On and its skilled employees to our organization," 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."