Otis Elevator Company Announces New Contracts for Sustainable Building Projects

^{Published on 2011-10-06 19:00:55 - Market Wire}
 

Otis Elevator Company Announces New Contracts for Sustainable Building Projects -- TORONTO, Oct. 6, 2011 /PRNewswire/ --

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Significant Wins Reinforce Otis' Position as the Industry Leader in Energy-Efficient Products

TORONTO, Oct. 6, 2011 /PRNewswire/ -- [ Otis Elevator Company ], a unit of [ United Technologies Corp ]. (NYSE: [ UTX ]), today announced from the Greenbuild 2011 International Conference that it has won several significant contracts that solidify Otis' commitment to providing sustainable solutions for its customers. These new wins build upon the success of the company's The Way To Green™ initiative, a global environmental program that spans every aspect of its operations, from design and manufacturing, to end-of-life product recycling.

"Winning new projects in South Korea, Germany, Brazil, China and Russia demonstrates Otis' commitment to providing energy-efficient solutions for sustainable development worldwide," said Didier Michaud-Daniel, president of Otis Elevator Company. "As the industry leader, our continued focus on innovation is reflected in our products and services, which ensure efficient and reliable transportation for all passengers."

The most substantial of the new contracts involves supplying and installing 700 energy-efficient elevators for an immense social housing reconstruction project in Jiangsu, China, one of the largest wins in Otis' history in the country. Under the contract, Otis will install permanent-magnet gearless elevators, which require less space in the building and feature the company's energy-efficient ReGen™ drive technology. ReGen drives capture energy generated by the elevators and deliver it back to the building for use by other systems.  When completed over the next two years, the project will provide elevator service to 16,000 units of housing, covering an area of approximately 2.9 million square meters.

Otis Elevator Company's other recent contracts to supply and install energy-efficient elevators include:

• The Lotte World Tower in Seoul, South Korea, the world's second tallest building, which is set to be completed in 2015. Otis will supply and install 46 elevators and escalators, including 16 energy-saving Gen2® elevators.
• The Vodafone D2 GmbH corporate headquarters in Dusseldorf, Germany. Otis will supply and install 39 elevators, including 29 Gen2 elevators.  The Gen2 elevators will feature ReGen drives that reduce energy consumption by up to 75 percent compared to conventional systems with non-regenerative drives.
• Medical technology centers in Kaliningrad, Smolensk, Barnaul and Novosibirsk, Russia. Otis will supply and install a total of 28 elevators, 25 of which will be energy-efficient Gen2 elevators.

To date, Otis has sold more than 230,000 Gen2 elevators since the product's launch in 2000, making it the fastest-selling elevator product in company history. Otis continues to see strong demand for Gen2 elevators and ReGen drive technology in established and emerging global markets in new construction as well as modernization projects for both residential and commercial buildings.

About Otis Elevator Company

Otis Elevator Company is the world's largest manufacturer and maintainer of people-moving products including elevators, escalators and moving walkways. With headquarters in Farmington, Connecticut, Otis employs 60,000 people globally, offers products and services in more than 200 countries and territories and maintains over 1.7 million elevators and escalators worldwide. United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.

SOURCE Otis Elevator Company

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[ http://www.otisworldwide.com ]