In addition, Kone builds and services moving walkways (referred to by the company as autowalks),[3][4] automatic doors and gates, escalators, and lifts.

As of December 2019[update], Antti Herlin controls 62% of the voting rights and 22% of the shares of the company,[5] which is listed on Nasdaq Helsinki.

Six years later, in 1924, entrepreneur Harald Herlin bought Kone from Strömberg and became the new chairman of the company's board of directors.

His office was located in a former margarine factory on Haapaniemi Street in Helsinki, which Kone had bought and converted into an elevator production facility the previous year.

This program forced Kone to expand its capacity, rationalize production processes and learn to meet demanding manufacturing schedules.

Heikki H. Herlin turned over the president's duties in 1964 to his son, Pekka, who had served as an administrative director since 1958.

The following year Kone was listed on the Helsinki Exchanges and started its international expansion through the acquisition of Sweden's Asea-Graham and its Norwegian and Danish affiliates.

The company became one of the world's largest hoist and crane manufacturers as well as a producer of high-tech electronic hospital and laboratory equipment.

Prevented by Finnish law from serving simultaneously as president and board chairman, Pekka Herlin ceded the presidency to Matti Matinpalo, the first non-Herlin to occupy the position in 55 years, and continued as chairman of the board.

Soon afterward, the Kone Corporation purchased a majority of the outstanding shares of O&K Rolltreppen GmbH of Germany, a supplier of escalators and autowalks.

In 1998 the company made a $29 million (US) investment in the construction of an elevator and escalator factory in Kunshan, China.

Kone's MRL designs significantly reduced the size of elevator machinery and its lift mechanism by using permanent-magnet electric motors (PMM).

At the beginning of the 21st Century, due to the apparent benefits of Kone's pioneering elevator systems, rival companies[which?]

Kone's chairman of the board, Pekka Herlin, died on April 4, 2003, after a long illness.

At the end of 2004, Kone Cargotec acquired MacGREGOR, a global marine cargo-flow service provider.

[7] Also in 2007, it was announced Kone had received part of what was then the largest fine ever handed out by the EU Commission for local anti-competitive practices in the elevator and escalator markets in Belgium, Germany, Luxembourg, and the Netherlands relating to the time before mid-2004 (the commission stated that it could only prove its case back to 1995, though evidence allegedly suggested the abuse had started much earlier[citation needed]).

In total, the industry received a 1 billion EUR fine for cartel activity across Belgium, Germany, Luxembourg, and the Netherlands.

[9] The European Union (EU) gave a fine of 992 million euros ($1.3bn; £666.8m) on four lift and escalator manufacturers for price-fixing between 1995 and 2004.

Germany's ThyssenKrupp, US-owned Otis Elevator Company, Kone of Finland, and Swiss firm Schindler were fined for taking part in a market-rigging cartel.

[15] Jeddah Tower in Saudi Arabia (with a height of 1,000 meters) which opens in 2024 will feature Kone UltraRope.

The motor control system and brakes make the elevator ride quieter and the design frees up space.

There is also an app for the elevator system that allows you to call and type in your destination from your mobile device reducing wait time.