KONE to modernize equipment at Melbourne Central Tower, a high-profile office building in Australia

Press Release Published 03/16/2016

KONE Corporation, press release, March 16, 2016

KONE, a global leader in the elevator and escalator industry, has been selected by the GPT Group as its key modernization partner for the Melbourne Central Tower. KONE will be brought in to the high-rise office building in Melbourne, Australia, to modernize 25 elevators as well as to introduce a new destination control system. These solutions will support the building's green credentials and result in optimal people flow.

Standing at 211 meters and comprising 51 floors, Melbourne Central Tower houses local and international businesses, and a thriving retail precinct at the base of the building including fine-dining restaurants and cafes. Located in the heart of Melbourne's business district, the Tower has a total rental area of approximately 65,000 square meters. The building has a 4.5-star unassisted (5.0 assisted) energy rating from NABERS (National Australian Built Environment Rating System).

The advanced KONE Destination Control System will ensure an optimal passenger experience by using information about desired destination floors and the number of waiting passengers, contributing to increased handling capacity and reduced journey times. KONE's modernization solutions will also include high-efficiency hoisting machines and regenerative drives that boost sustainability through reduced energy use.

The upgrade work is expected to begin in June 2016 with completion scheduled for mid-2018.

The order was booked in the fourth quarter of 2015.


Previous press releases on KONE's orders are available at www.kone.com/press, including:

June 10, 2015: KONE to modernize and maintain equipment at 360 Collins Street, a prestigious office building in Melbourne, Australia

November 24, 2014: KONE wins order for luxury hotel development in Perth, Australia

November 5, 2014: KONE to equip Collins Square, one of Australia's largest mixed-used development with sustainable people flow solutions


For further information, please contact:

Liisa Kivelä, Director, Communications, KONE Corporation, tel. +358 204 75 4330, media@kone.com

About KONE

KONE is one of the global leaders in the elevator and escalator industry. KONE's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2015, KONE had annual net sales of EUR 8.6 billion, and at the end of the year close to 50,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.

www.kone.com

Change In KONE Corporations Holding of Treasury Shares

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