September 2 (SeeNews) - Finnish elevator and escalator maker Kone said on Wednesday it has acquired its authorized distributors in Croatia and Bosnia, Lift Modus Zagreb and Lift Modus Sarajevo, with eye on growth in the region.
Zagreb-based Lift Modus, which has around 1,600 elevators and escalators in service and employs around 60, has been Kone's exclusive distributor since 1999, Kone said in a statement.
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"With the acquisition of Lift Modus, we are very pleased to establish our presence in Croatia and Bosnia and take advantage of the growth opportunities in the region," Kone's executive vice president Pierre Liautaud said in the statement.
Kone provides elevators, escalators, automatic building doors and integrated solutions. Its services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2014, the company had annual net sales of 7.3 billion euro ($8.2 billion), and at the end of the year over 47,000 employees.
($=0.8878 euro)