KONE Q2 orders up 10.6%, NJ safety bills, MBTA escalator death
This issue covers a lot of ground: the KONE–TK Elevator deal continues to reshape the competitive landscape, with Schindler already positioning to benefit, while KONE's own Q2 numbers show modernization carrying the growth story. On the regulatory and safety side, New Jersey has introduced a three-bill elevator safety package, a fatal MBTA escalator incident is raising hard questions about emergency-stop response times, and — closer to home — we have a clean reference timeline of every elevator code BC has ever adopted.
BC's elevator code adoption timeline
Every edition of the elevator and escalator safety code British Columbia has adopted, when each became law, and which one governs work in the province today — on one timeline, with every document linked.
KONE holds full-year guidance as Q2 orders jump 10.6% despite TKE deal costs
KONE's Q2 results, published 22 July, show orders up 10.6% to €2.56 billion and the adjusted EBIT margin expanding to 12.6% — a 40 basis-point improvement even as €25.8 million of TK Elevator transaction costs weighed on the half. CEO Philippe Delorme singled out modernization for “double-digit growth across all regions,” the clearest signal yet that aging equipment, not new installations, is where KONE sees its near-term opportunity. Full-year guidance is unchanged: 3–6% sales growth and a 12.3–13.0% adjusted EBIT margin. On the TKE deal itself, KONE says shareholder approvals are secured and regulatory filings are underway in every key jurisdiction.
NJ Sen. McKnight Introduces Three-Bill Package on Elevator Safety and Maintenance
New Jersey State Senator Angela McKnight (D-31) introduced a package of three bills targeting elevator safety and maintenance in multistory residential buildings. Bill S-2834 revises licensing requirements and out-of-state reciprocity for elevator, escalator, and moving walkway mechanic licenses. Bill S-2835 would establish a consumer-facing portal for elevator maintenance information and require the NJ Department of Community Affairs to create a senior housing elevator maintenance loan program. Bill S-4060 would mandate that certain elevator inspectors obtain certification as a qualified elevator inspector.
Schindler Eyes Gains Amid Kone–TK Elevator Merger, CEO Comments
On July 21, 2026, Schindler CEO Paolo Compagna told Reuters that his company sees opportunities to win customers, recruit staff, and potentially acquire divested assets as rivals Kone and TK Elevator pursue regulatory approval for their planned EUR 29.4 billion merger. Compagna noted the deal would likely face antitrust scrutiny across multiple jurisdictions and could cause significant disruption during integration. Schindler also reported Q2 2026 sales below market expectations, weighed down by a sluggish Chinese market and currency headwinds.
MBTA escalator death: 20-minute gap before shutdown raises response-time questions
Steven McCluskey, 40, became trapped when his clothing caught in a moving escalator at the MBTA's Davis Square station in Somerville, Massachusetts, on 27 February. The state medical examiner ruled the cause of death as asphyxia by strangulation. According to surveillance footage cited by NBC Boston, the escalator was not stopped for more than 20 minutes after McCluskey became trapped, and several riders passed without intervening. The case, now under investigation by the Middlesex County District Attorney's Office, raises real questions for the trade: how quickly staff and bystanders can locate and use an emergency stop, and whether stop-switch visibility and public awareness need a second look industry-wide.
Have a take on any of these stories? The conversation is open at the Counterweight community forum — join your peers at
Join the discussion on the forum