Technology division partners with IBM to track usage
In 2015, Kone Corporation (Kone) created a separate technology division to emphasize research and development and information technology. In 2016, this division partnered with International Business Machine Corporation (IBM) to use IBM's Internet of Things technology to better track equipment usage data. This has enabled Kone to create new efficiencies in the maintenance of its products. In addition to expanding the role of technology, Kone opened a new manufacturing facility in Allen, TX, in 2016.
New Activity|ESG|Structural|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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