Muscat: KONE, one of the leading elevator and escalator companies in the world, has announced their joint venture with Oman's Assarain group.
KONE has been operating in the Sultanate as a division of Assarain Enterprise since the 1980s and has captured a strong market share with over 1,000 installations nationwide, said a company release.
This joint venture is aimed at further strengthening the market presence in the country and benefitting customers with a robust sales and service network.
The Assarain group has been at the helm of business development in Oman since its inception, building an impressive and diverse portfolio of international brands and businesses.
Today, as a multi-million dollar international group, its diverse interests span construction, property development and leasing, national infrastructure projects, consumer products, food distribution, travel and insurance and health care.
KONE was founded in 1910 in Finland and since then has been committed to understanding the needs of its customers by providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernisation and maintenance.
It was the only elevator and escalator company ever to have made it to Forbes magazine's top 50 most innovative companies in the world two years in a row.
For over a century now, the company's innovations continue to set benchmarks for the entire elevator and escalator industry. One of its most popular and talked about invention is the revolutionary machine room less elevator concept using their EcoDisc permanent magnet synchronous motor.
KONE has also pioneered the introduction of eco-friendly products that save energy directly or indirectly. The success of their technology and design is evident with them posting an annual net sale of 6.3 billion euros in 2012.
"KONE and Assarain Group's strategic partnership will enable various clients utilise path breaking technology and advancements and help hundreds of customers they serve," said Khalid Said Al Wahaibi at a function to mark the occasion.
KONE is supplying MonoSpace and TranSys elevators, TravelMaster and TransitMaster escalators and autowalks for the new Muscat International Airport.
This project is considered as one of the most valuable infrastructure projects in Oman and KONE products will ensure smooth and efficient travel for up to 12 million passengers annually.
The Assarain Group's hallmark is quality and with their new joint venture, it is evident that they will continue to enhance National development in the Sultanate in many different ways.