KONE India setting up second unit near Chennai

: Elevator and escalator company KONE India is aiming a higher sales growth than the industry which is expected to grow to 6-8 per cent this financial year, managing director of the company Amit Gossain said today.

"The growth rate in the elevator and escalator industry remained flat last year. This year, we do expect it grow to 6-8 per cent, as there is a lot of requirement for housing," Gossain told mediapersons here.

The company came out with its new elevator KONE U MonoSpace and KONEU MiniSpace for the mid-range segment. The KONE U MonoSpace elevators are upto 35 per cent more energy efficient, he said.

KONE India, which has a marketshare of over 20 per cent, was setting up its second manufacturing unit at Sriperumbudur near Chennai and was expected to be ready by mid-2019, Gossain said.