July 19, 2018 / 12:06 PM / a month ago

Elevator maker Kone interested in industry consolidation -CEO

HELSINKI, July 19 (Reuters) - Finnish elevator-maker Kone is interested in industry consolidation, its chief executive said on Thursday when asked about a report on M&A talks between Kone and Germanyæs Thyssenkrupp.

“As said before, there is room for consolidation in the industry, and it is interesting to us,” CEO Henrik Ehrnrooth told a news conference.

“There are many alternatives to do it. There are plenty of middle-sized companies, some larger, and then a lot of small companies.”

He declined to comment a recent report by German daily Handelsblatt, which said large shareholders of Thyssenkrupp and Kone had held talks on a potential merger of their elevator businesses. (Reporting by Jussi Rosendahl, editing by Gwladys Fouche)

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