As commercial decision, Zhejiang Giant Holdings Co., Ltd. (“Giant Holdings”) exercised its Put Option to sell the remaining twenty percent (20%) share of registered capital of GiantKONE Elevators Co., Ltd. (“GiantKONE”) to KONE Corporation (“KONE”). Equity Transfer Agreement has been executed on Aug 25th, 2016.
GiantKONE was established by Zhejiang Giant Elevators Co., Ltd. (currently named as “Giant Holdings”) and KONE as a joint venture in 2005. Giant Holdings appreciates KONE’s efforts in the mutual cooperation, the contributions of GiantKONE’s staff to the development of GiantKONE and wishes GiantKONE a brighter future.
Giant Holdings is a company with a sixty-years history, who pioneered with painstaking efforts, suffered the transition period, benefitted from the great opportunity of the Reform and Opening-up of China, expanded rapidly in recent two decades and became a conglomerate that has stepped into multi business areas. Looking forward, Giant Holdings will keep practicing its mission and open a new chapter based on industries and driven by innovations.
Zhejiang Giant Holdings Co., Ltd.
Aug 26th, 2016
