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Trade Press Release

MacGREGOR RoRo systems specified for another two Fincantieri ferries for Finnlines

5/3/2005

MacGREGOR marine elevator business is being transferred to KONE while MacGREGOR concentrates on marine cargo handling: the service continues

MacGREGOR marine elevator business is being transferred to KONE, the Finnish elevator and escalator company. The transfer follows the acquisition of the MacGREGOR Group in December 2004, when Kone Cargotec, the cargo-handling business of KONE Corporation, purchased it. MacGREGOR continues under Kone Cargotec, supplementing Kone Cargotec container- and load-handling businesses, Kalmar and Hiab, which enables MacGREGOR to pursue its strategy of concentrating on cargo access, cargo flow and cargo care solutions.

KONE and MacGREGOR have a long history together. The companies have been partners since 1994, combining KONE expertise in elevator and escalator technology with the shipbuilding knowledge of the MacGREGOR Group. Since 1997 MacGREGOR and KONE had an exclusive partnership agreement providing elevators and escalators to the shipbuilding industry. Having the former MacGREGOR elevator business under the KONE flag is a logical step that benefits all.

The marine elevator business will continue in KONE as a unit specializing in the marine elevator business. MacGREGOR elevator customers, who already enjoy MacGREGOR high service level, will now benefit from KONE product expertise and the coverage of KONE global organization, says the KONE Marine unit Juha Nkki.

The know-how that MacGREGOR has of marine elevators will further gain from this transfer. The excellent relationship and contact with our customers is something we particularly value. KONE Marine strives to maintain the best possible continuity of contact with customers.

The innovations will continue. MacGREGOR has been successful in introducing many of KONE innovations, such as the MiniSpace and MonoSpace elevators into the marine elevator market. KONE Marine will continue on this path. With KONE global expertise and approach we want to help our customers make profit.

After a few slower years, the cruise ship and ferry markets show positive signs. This is an exciting time for KONE to enter the marine market under the KONE brand. With our strengthened organization we are looking forward to growing with the market, and also introducing our products also to new markets.

KONE is a global leader in providing complete and innovative solutions for the installation, maintenance and modernization of elevators and escalators and the maintenance of automatic building doors. KONE provides safe and easy access to hundreds of millions of people daily in all parts of the world. KONE has annual net sales of approximately EUR 2.9 billion and about 25,000 employees. Its class B shares are listed on the Helsinki Exchanges.


MacGREGOR marine elevator milestones

1972: Dan Elevator in Copenhagen was formed the first elevator company dedicated to marine applications

1974: Dedication to the marine environment led to the introduction of the Plug-In elevator to simplify shipboard installation

1974-1989: while focusing on new buildings in central Europe, Dan Elevator still sold elevators to Asia via agents

1989: When Dan Elevator was bought by KONE Elevators and integrated into the MacGREGOR Group, it was natural to use key components from KONE; the brand name was changed from Dan Elevator to MacGREGOR.

1989-1996: MacGREGOR focused on elevators for cruise ships and passenger ferries, and in a couple of years its market share for this sector increased from 20 per cent to 50 per cent globally.

1994: MacGREGOR introduced to the marine market the next generation of elevator drive systems for elevators, when the traditional thyristor control was upgraded to a frequency and voltage converter

1996: MacGREGOR reputation resulted in a global market share of close to 70 per cent

1996: To support passenger ship owners and builders, MacGREGOR traffic analysis was used as a base for most new projects in which passenger flow demands were evaluated.

1999: The revolutionary MiniSpaceu201e elevator concept was introduced, based on gearless hoisting machinery saving space and weight on board, and also providing even higher drive comfort

2002: The first MonoSpace elevators were installed on ships, the first practical elevators to dispense with a machinery room; this unique technology is being installed on most new passenger ships thanks to the tremendous savings in space, weight, energy, and capital cost

2005: Following KONE Cargotec acquisition of MacGREGOR, the Group elevator business is being seamlessly transferred to KONE Elevators.

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For further information, please contact:
Juha Nkki at KONE or Bj¶rn Stenwall at MacGREGOR
Office: + 358 20 475 2330 + 358 2 4121 330
Email: juha.nakki@kone.comor bjorn.stenwall@macgregor-group.com