July 18, 2019 / 12:39 PM / 5 months ago

Kone CEO sees 'a lot of sense' in sector consolidation

HELSINKI (Reuters) - Finnish elevator maker Kone (KNEBV.HE) sees “a lot of sense” in consolidation of the sector, but its chief executive declined on Thursday to comment on interest in rival Thyssenkrupp’s elevators business.

“We think consolidation in this industry makes a lot of sense,” Chief Executive Henrik Ehrnrooth told Reuters in an interview.

“If there are opportunities we are happy to part, or drive this consolidation,” he said.

There has been frequent speculation that Kone might bid for the Thyssenkrupp division, but Ehrnrooth declined to comment.

“We don’t comment on rumours or speculation,” he said.

Earlier this month, Thyssenkrupp said it was sticking to plans to float its elevator business after a media report said the conglomerate was planning to start talks in autumn on selling it.

Reporting by Tarmo Virki, Editing by Jane Merriman

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