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Kone’s $34B Bet on the US Market With TK Elevator
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Subscribe01 MAY 2026 / BUSINESS
Finnish company Kone has acquired TK Elevator for €29.4 billion, marking its entry into the lucrative elevator maintenance and modernization market. The deal will provide Kone a stronger presence in Asia and TK Elevator a significant foothold in North America, but it faces antitrust scrutiny and integration challenges which may delay its completion until mid-2027.
Walk into any high-rise in Manhattan, and you’ll hear it, the quiet hum of elevators doing their thing. No one thinks twice about it. Until someone decides to own a big chunk of that hum globally. That’s exactly what Finland’s Kone just signed up for with...
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