In an interview to The Financial Express, deputy chairman and CEO of the company Antti Herlin said that the real growth in business would come from emerging markets and his corporation was gearing up for the challenge by enhanced research and development efforts and strengthening its operations in East and Far East.

Kone Corporation, which is the world's largest company in the field of escalators and number tow in elevators after Otis, operates in India through a subsidiary Kone Elevator India. As far as India was concerned, Herlin pointed out that the total value of orders received by the Indian subsidiary increased during 1999. He further added that the deliveries in the Indian market grew by nearly 20 per cent and service business expanded by one third. The company's order book includes elevatorsfor some of the tallest buildings in India and also installation of new generation monospace elevators.

Referring to the Asian economic crisis, Herlin said that it hit particularly hard the property business and construction activity. However, there were signs of recovery and the elevator and escalator market was poised for a decent growth in the near future.

The corporation, he said, had already started a factory in China and the factory's products got off a good start in 1998. He hoped that the production targets for 1999 would be achieved.

Simultaneously, he added, Kone reached an agreement with Toshiba of Japan for a global alliance. Toshiba will have the global rights to use EcoDisc technology and market MonoSpace elevators in Japan. In addition, the Japanese company could market these products alongside Kone in China, Hong Kong, Taiwan, Indonesia, Malaysia and Singapore.

This will help the company to take advantage of the economic turnaround in the Asian market. Currently, Asia Pacific accountsfor only 9 per cent of the total sales after Europe (57 per cent) and North America (30 per cent). However, in future, Asia will be the key area for action.

Speaking about the global operations, Herlin said, ``We like to position ourselves as the technology-driven company and world leaders in the field of elevators and escalators.''

He pointed out that room-less MonoSpace elevators, developed the research and development team of the company, was described as `elevator innovation of the century'.

In the elevator hoistway is enclosed in the drive. It cuts elevator construction costs and energy consumption. The MonoSpace had been acclaimed as revolutionary advance and won several international awards, the last being the NOVA award for construction innovation in March 1999.

Herlin further said that the application of Kone EcoDisc -- a gearless hoisting machine -- was being extended because of distinct advantages like high efficiency, low energy consumption, compact size, quiet operation and ride comfort.Among other things, he said, Kone opened the world's longest 350 metre deep limestone shaft for testing elevators for skyscrapers over 200 meter tall.