Kone: future of door subsidiary in question

(CercleFinance.com) - Finnish elevator and escalator manufacturer Kone said on Tuesday that it planned to study a number of options for its automatic doors subsidiary, starting with a possible sale of the entity.


In a press release, the group explains that this strategic review process aims to determine the optimal structure for the division, and to identify potential synergies, while ensuring the interests of customers and employees.

At this stage, Kone also says it envisages that the door business will henceforth operate independently from a legal point of view.

The division, which manufactures pedestrian and industrial doors and provides maintenance and repair services, generated around 2% of Kone's total sales last year.

The share price reacted with little enthusiasm to the announcement, posting a modest gain of around 0.4% on Wednesday on the Helsinki Stock Exchange.

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