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Kone: buys Spanish elevator maintenance company

(CercleFinance.com) - Finnish lift and escalator maker Kone said on Tuesday that it has bought the Spanish firm Ascensores R Casado to strengthen its position in Madrid.

Kone said the elevator company - which provides installation, maintenance and modernisation services - currently has over 1,300 elevators in service.

"Madrid represents a key market for Kone in Spain and this acquisition will strengthen our market position in the region," says Pierre Liautaud, executive vice president for Kone South Europe, Middle East and Africa.

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