Vacon signs supplier contract with KONE

Vacon Plc, Stock exchange release, 23 November 2010 at 1 pm:

The global AC drives manufacturer Vacon has signed a supplier contract with KONE
Corporation. KONE is one of Vacon's global OEM customers. The value of the
contract is estimated to be several million euros annually for the coming years.

The new supplier contract between Vacon and KONE covers new energy-efficient AC
drives that have been designed in close cooperation. "This cooperation is a good
example of Vacon's capability to develop new technology and products which are
suited to the new market and customer needs. Vacon is able to create solutions
that only a dedicated AC drives house can provide. We take pride in that KONE as
a global elevator manufacturer chooses Vacon as its supplier. I think the
quality, reliability, and innovative design of our products are the features our
customers value most," says Heikki Hiltunen, Executive Vice President, Vacon
Group.

The AC drives Vacon provides to KONE are built on Vacon's latest technology
platform. The AC drives help the customer save a remarkable amount of energy due
to the specific technological innovations that were incorporated into the
products. The product deliveries will begin later this year, and their volume
will increase during the years 2011-2012.

Vacon Group

Further information:

  * Heikki Hiltunen, Executive Vice President, Products and Markets, Vacon
    Group, mobile +358 (0)40 8371 609, email heikki.hiltunen@vacon.com

Press contact:

  * Sebastian Linko, Director, Corporate Communications, Vacon Group, mobile
    +358 (0)40 8371 634, email sebastian.linko@vacon.com

Vacon in brief

Vacon is driven by a passion to design, manufacture and sell only the best AC
drives on the planet - and nothing else. AC drives can be used to control
electric motors or to help generate power from renewable sources. Vacon has R&D
and production units in Finland, the United States, China and Italy, and sales
offices in 27 countries. In 2009, Vacon had revenues of EUR 272 million and
globally employed 1,200 people. Vacon's shares (VAC1V) are listed and publicly
traded on the Helsinki Stock Exchange.

Driven by Drives, www.vacon.com

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NASDAQ OMX Helsinki
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