Cairo, Egypt — KONE, a global leader in the elevator and escalator industry, and Arab International Optronics (AIO), one of Egypt’s leading industrial manufacturing companies focused on supporting local industrial development and advanced technology solutions, signed a Strategic Letter of Intent (LOI) in the presence of H.E. Eng. Khaled Hashem, Minister of Industry, and H.E. Riikka Eela, Ambassador of Finland to Egypt. The Letter of Intent establishes a framework for future collaboration that brings together KONE’s expertise in smart and sustainable People Flow solutions with AIO’s industrial and technological capabilities to explore opportunities supporting future ready mobility solutions, industrial innovation, and sustainable infrastructure development across Egypt. The collaboration also reflects both entities’ shared vision for shaping the future of cities through innovation, smarter infrastructure, and sustainable urban transformation.

The signing of the Letter of Intent reflects KONE's confidence in Egypt as a strategic hub for growth, innovation, and industrial development. Through its local presence and ongoing collaborations with national entities, KONE continues to support Egypt Vision 2030 by contributing to the development of smarter, more sustainable, and future-focused urban communities while helping shape the future of cities through advanced People Flow® solutions and infrastructure innovation.

Chairman of Arab International Optronics (AIO), said: “We are proud to sign this Letter of Intent with KONE in a step that reflects the importance of combining international expertise with Egyptian industrial capabilities. At AIO, we believe strategic collaborations play an important role in supporting national development priorities, fostering innovation, and creating sustainable long-term impact. This Letter of Intent reflects our shared commitment to supporting Egypt’s continued urban and economic development through innovation, advanced technologies, and future focused collaboration that contributes to shaping smarter and more sustainable cities.”

Ahmed Fathi, Managing Director of KONE Egypt, said: “This Letter of Intent represents an important step in strengthening collaboration between global expertise and Egyptian industrial capabilities to create long term value for the local market. Through working closely with AIO, we aim to remain close to customer needs and support the development of reliable and future-focused mobility and People Flow solutions that contribute to the country's evolving urban landscape. At KONE, shaping the future of cities starts with creating safer, smarter, and more seamless experiences for people and communities, and we believe strong collaborations play an essential role in making that vision a reality.”

Through this Letter of Intent, both entities aim to explore opportunities for collaboration across areas related to smart mobility, sustainable infrastructure, advanced industrial solutions, and People Flow innovation, while supporting Egypt’s ongoing urban transformation and fostering collaboration between international expertise and local industrial capabilities.

The announcement reflects the shared ambition of KONE and AIO to explore opportunities that support Egypt's urban transformation through innovation, advanced technologies, and collaboration that contributes to creating smarter, digitalized enabled, and more sustainable cities.

For further information, please contact: 
Media Contact:
Yasmin Youssef
Head of Communications, KONE Middle East, Türkiye & Africa
yasmin.youssef@kone.com

Read more

Previous press releases are available at www.kone.com/en/news-and-insights/releases/

About KONE

At KONE, our purpose is to shape the future of cities. As a global leader in the elevator and escalator industry, we move two billion people every day, making their journeys safe, convenient, and reliable with smart and sustainable People Flow®. In 2025, KONE had annual sales of EUR 11.2 billion, and at the end of the year over 60,000 employees, in close to 70 countries. KONE Class B shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.kone.com

About KONE Egypt:

KONE was founded in 1910 in Finland and entered the Egyptian market in the early 1990s through local distributors, eventually establishing a direct presence in 1999 with the founding of KONE Egypt. Today, KONE Egypt is headquartered in Cairo, where it employs over 350 dedicated employees focused on providing high-quality elevator, escalator, and maintenance services. The company serves diverse clients across Egypt, from high-rise residential projects to large infrastructure developments. www.kone.eg