as a "revitalizing transaction" Thyssenkrupp Elevator (TKE) describes the special type of "conveyor technology"Combined, the two companies would generate approximately €20.5 billion in annual revenue.
Approximately 65% of the maintenance work, which comprises around 3.2 million elevators and escalators worldwide, would consist of servicing and modernization. The merger is said to create significant added value through realized synergies of around €700 million annually – for customers and shareholders alike.
Service network densification
The synergies would be realized primarily through a higher density of service networks, strengthened joint R&D capacities, platform optimization, increased procurement efficiency, and savings in sales and general administrative costs. In 2025, the Finnish Kone Group, with over 60,000 employees in approximately 70 countries, generated annual sales of €11.2 billion.
TKE became independent after its spin-off from the Thyssenkrupp Group in 2020. In the 2024/2025 financial year, the company, with its elevators, escalators, moving walkways, passenger boarding bridges, stairlifts, platform lifts and private elevators, generated €9.2 billion in revenue, employing around 50,000 people, 25,000 service technicians and operating over 1,000 locations worldwide.
Critical reactions
Kone's current president and CEO, Philippe Delorme, would lead the combined company, and Ilkka Hara, Kone's current CFO, would assume the role of chief financial officer. The merger between the former rivals triggered critical reactions on the stock markets and raised antitrust concerns.
