Sunday, April 19, 2009

57: Helping us go higher!

X (then known as Osakeyhtiö X Aktiebolag) was founded in 1910 as a subsidiary of Gottfr. Strömberg Oy. Strömberg's license to import Graham Brothers elevators was transferred to the new company. X sold just a few units before terminating the licensing agreement in 1917. X, then a company with only 50 employees, started to make and install its own elevators in 1918. Six years later, in 1924, entrepreneur Harald Herlin bought X from Strömberg and became the new chairman of the company's Board of Directors. His son, joined the company and was appointed technical director in 1928. Herlin took over as X' president in 1932. X's first foreign subsidiary - AB X Hissar of Sweden - was established in 1957.

In the 1950s X introduced its first group controls, automatic doors and hydraulic elevators. Heikki Herlin turned over the president's duties in 1964 to his son, Pekka, who had served as administrative director since 1958.

Significant Milestones:

  • 1985 – the acquisition of Montgomery Elevator's Canadian subsidiary opens an alliance with Montgomery in the U.S. that leads to the total integration of Montgomery into the X organization after 1994.
  • 1998 – X's alliance initiated with Toshiba of Japan.
  • 2002 – X acquires the industrial engineering company Partek.

Answer: KONE Corporation.

Miraj , Maulik , Gaurav T , Eldrich and Joe have cracked the answer.

Which Company?


Maulik !! said...

My guess is KONE

unless you put it there to confuse us:
Six years later, in 1924, entrepreneur Harald Herlin bought Kone from Strömberg

Eldrich said...


Gaurav Tarachandani said...

Kone Corporation

Joe said...

Kone corporation.