KONE Acquires Australia's Orbitz Elevators

KONE will acquire the service business of Gold Coast-headquartered Orbitz Elevators in Australia and all lines of the company’s businesses in New Zealand for an undisclosed sum, Business News Australia reports. Orbitz was founded a decade ago by British migrant Jonathan Dwayre, who had experience in a family elevator business in the U.K. KONE and Orbitz Elevators will continue to operate as separate entities until the integration is completed. Dwayre will join KONE in an advisory role for five consecutive years to ensure a smooth transition. KONE said the acquisition complements its existing service offerings in the South Pacific and beyond. The transaction will not include Orbitz Elevators Papua New Guinea or the vertical projects business.