OREANDA-NEWS  One of the largest manufacturers of lifts, elevators and escalators in the world, Finnish Kone has completed the sale of the Russian division and left the Russian Federation, the company said on Tuesday.

"Kone Corporation, the world leader in the production of elevators and escalators, has completed the sale of its Russian division to the Russian diversified holding company S8 Capital. The deal was approved by the relevant authorities, and its closure means that Kone has now completely left Russia. The amount of the transaction was not disclosed," the message says.

In June 2022, the company announced the search for buyers for the Russian business.

At the time of the transaction, Kone employed about 300 people in Russia, and this business accounted for less than 1% of the corporation's global sales.