KONE jumps to an all-time high as Chinese orders keep piling in

People going in the integrated transport centre THE HUB or the Hongqiao Comprehensive Transportation Hub serving Hongqiao commercial zone in Shanghai, China will be using KONE (OMX: KNEBV) technology as property development company Shui On Land has placed an order for 67 elevators and 82 escalators on the Finnish company. The entire area has 380 000 square metres of floor space with exhibition centre, 4 office buildings, a hotel and an entertainment village as well as a shopping centre connected to the transportation hub. The new landmark will serve a population of 75 million people living within high speed railway’s one-hour catchment. KONE share made a new all time high and an all-time high close of 48.41 and 48.15 Euros respectively on the news on Monday. The order was booked in Q2 2012 accounts.