Finnish Elevator Giant Expands Swiss Rail Contract as Industry Faces Cyber Security Overhaul
Published on 07/22/2026 at 21:31 | Redaktion boerse-global.de
KONE, the Finnish elevator manufacturer, has secured a maintenance contract covering 700 lifts and escalators operated by Swiss Federal Railways (SBB), a deal worth 2.3 million Swiss francs annually. The agreement boosts KONE’s share of the SBB portfolio from roughly 30 percent to around 60 percent, marking a significant expansion in one of Europe’s most demanding rail networks.
The challenge is considerable: two-thirds of the equipment comes from other manufacturers, and 250 units are classified as system-critical for rail operations. KONE plans to deploy round-the-clock networked real-time monitoring across the entire fleet. Alexander Vitt, managing director of KONE DACH, described digital connectivity as essential for the company’s future growth, though he did not provide specific performance targets.
Keeping complex, multi-vendor equipment running safely under demanding conditions requires a systematic approach to risk management. Whether you're maintaining 700 lifts or a single office block, documenting hazards properly is the first step. A free Risk Assessment Toolkit gives you 41 ready-to-use templates and checklists to help ensure nothing gets missed. Download the free Risk Assessment Toolkit
The deal comes at a turbulent moment for the elevator industry. A €29.4 billion takeover of TK Elevator has created a new market leader with an estimated 30 percent share and combined annual revenue of roughly €20.5 billion. Paolo Compagna, CEO of Schindler, publicly condemned the transaction and announced plans to challenge it legally.
KONE’s own financial results paint a mixed picture. Second-quarter 2026 revenue rose 3.1 percent to €2.94 billion, and order intake climbed more than 10 percent. But profit fell 13.3 percent to €240.2 million. For the full year, the company forecasts revenue growth of between 3 and 6 percent.
Beyond the corporate shake-up, regulatory pressures are mounting. In June 2026, the Association of German Engineers (VDI) published an updated version of guideline 2263, sheet 8, which tightens fire and explosion protection rules for elevators handling combustible dusts.
A far more sweeping change arrives on January 20, 2027, when the EU Machinery Regulation (EU) 2023/1230 takes effect. It introduces new cybersecurity and artificial intelligence requirements for lift control systems. Experts at TÜV SÜD warn that manufacturers will be legally obliged to protect against unauthorised tampering with control systems. The complication: relevant standards, such as prEN 50742, are still being drafted.
With fire and explosion protection rules tightening, having a robust fire safety plan is more critical than ever. A free Fire Safety Toolkit provides a complete package including risk assessment templates, evacuation plans, and fire extinguisher training materials to help you stay compliant with current regulations. Get the free Fire Safety Toolkit
The practical consequences of failing to maintain ageing infrastructure are already visible. At Coesfeld station in Germany, lifts remain out of service because the equipment must be replaced by the end of the year. Passenger advocacy groups have criticised the resulting lack of barrier-free access. The situation illustrates a broader dilemma: operators must modernise aging assets while simultaneously meeting stricter risk-assessment and IT-security standards.
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
