KONE Announces First North American Installation of JumpLift Technology

KONE Inc, a global leader in the elevator and escalator industry, today announced the first North American installation of KONE JumpLift technology in One Bloor, Great Gulf's flagship high-rise condominium under construction in Toronto.

KONE JumpLift, which has already been installed in Europe, Asia, the Middle East, China and Australia, is an advanced, self-climbing elevator that operates during construction in a building's permanent hoistway. KONE JumpLift uses a mobile machine room that moves upward as the construction progresses. The technology can improve safety and efficiency on job sites and can enable buildings to be completed months ahead of traditional construction timelines.

Great Gulf and KONE are collaborating on the project, which will deliver high-end retail and residential units in Toronto's Bloor-Yorkville area, and is expected to be completed in 2016.

"KONE technology and innovative design techniques are changing the way buildings are built across the globe," said Larry Wash, CEO of KONE Americas. "This collaboration with Great Gulf is helping us meet demand in the resurgence of high-rise construction in Toronto."

The KONE JumpLift technology includes the following benefits:

• Less Wait Time: Operating at speeds up to 800 fpm (4m/s), five times faster than a traditional external hoist used in construction, KONE JumpLift is able to move construction workers to their floors in a faster, safer way.
• Safer Transportation: With all transportation activities taking place inside in a dry and windproof shaft, construction workers can safely move throughout the building regardless of weather conditions, allowing building construction to proceed unhindered.
• Construction Efficiency: Using the building's permanent elevator hoistway for construction use, completed floors can be put into action while allowing the installation to continue above.
• Faster Delivery: When the building structure is completed, changing over to the permanent elevator is a straightforward matter of installing the final machinery and finishing the material surfaces of the elevator car, landing doors and signalization.

"Great Gulf always looks for innovation in design and construction. One Bloor, recently recognized by the International Property Awards as the best hi-rise condominium in North America, is one of the most significant buildings being built in Toronto," said Christopher Wein, President Great Gulf Residential. "The KONE JumpLift provides real value and this elevator technology will help the entire construction project to proceed more efficiently and safely for everyone working on site."

About KONE
KONE is one of the global leaders in the elevator and escalator industry. KONE's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. KONE provides industry-leading elevators, escalators, automatic building doors and integrated solutions to enhance the People Flow in and between buildings. KONE's services cover the entire lifetime of a building, from the design phase to maintenance, repairs and modernization solutions. In 2013, KONE had annual net sales of EUR 6.9 billion, and at the end of the year over 43,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.
For more, visit www.kone.us

About Great Gulf
Established in 1975, the Great Gulf Group of companies including Great Gulf, Ashton Woods Homes, First Gulf Corporation, Tucker HiRise Construction, Brockport Home Systems Ltd. and Taboo Muskoka is one of North America's premier real estate organizations. With major projects in Canada and the United States, the company's fully-integrated activities span the entire real estate spectrum.