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United Technologies' (UTX) Otis Wins Cruise Ship Contract
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Otis Elevator – a unit of United Technologies Corp. – was recently awarded a contract to provide its elevator and escalator services for four new cruise ships that will be built by Meyer shipyards. Per the contract, Otis is likely to provide 160 Otis elevators and 16 heavy duty escalators for the ships, which will be constructed by Meyer Werft in Germany and by Meyer Turku in Finland. The details of the deal were kept under wraps.
Founded in 1795, Meyer Werft, based in Papenburg, is owned by the seventh generation of the Meyer family. The company consists of approximately 3,300 employees. Meyer Turku Oy, dating back to 1737, currently has a staff of 1,500 and specializes in building highly complex, innovative and environmentally friendly cruise ships, car-passenger ferries and special vessels. In addition to the two sister shipyards in Germany, Meyer Werft in Papenburg and Neptun Werft in Rostock, Meyer Turku is one of the world’s leading cruise shipbuilders.
This is a prestigious project for Otis since it showcases its ability to support iconic shipping projects. Otis is likely to provide energy efficient, secure and reliable services for such highly advanced ships.
The four next-generation ships will comprise around 2,500 cabins, will be over 180,000 gross tons in size and will include a number of guest-friendly features to provide its passengers a comfortable journey.
The elevators and escalators will be provided by Otis’ operating entity in Spain, Zardoya Otis. The company is known for its highly advanced products designed to withstand damp and the saline sea environment. The elevators to be installed in these ships will contain highly integrated operational modes and RFID-based priority service for passengers. In addition, these elevators will be equipped with the Otis EMS Panorama management system and ReGen technology.
The four new ships will be utilizing liquefied natural gas in dual-powered hybrid engines to provide power to the ship both in port and at sea. This innovative technology has made these ships the first of its kind in the cruise industry.
Otis is a leading provider of elevator and escalator services. The company offers its services to over 200 countries and territories. Alongside, it maintains more that 1.9 million elevators and escalators worldwide. With a constant focus on innovation and expansion, Otis is likely to procure more such prime contracts in the near future.
United Technologies, the parent company of Otis, currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth a glance include WageWorks, Inc. , ExamWorks Group, Inc. and Koninklijke KPN N.V. (KKPNF - Free Report) . All three stocks carry a Zacks Rank #2 (Buy).
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United Technologies' (UTX) Otis Wins Cruise Ship Contract
Otis Elevator – a unit of United Technologies Corp. – was recently awarded a contract to provide its elevator and escalator services for four new cruise ships that will be built by Meyer shipyards. Per the contract, Otis is likely to provide 160 Otis elevators and 16 heavy duty escalators for the ships, which will be constructed by Meyer Werft in Germany and by Meyer Turku in Finland. The details of the deal were kept under wraps.
Founded in 1795, Meyer Werft, based in Papenburg, is owned by the seventh generation of the Meyer family. The company consists of approximately 3,300 employees. Meyer Turku Oy, dating back to 1737, currently has a staff of 1,500 and specializes in building highly complex, innovative and environmentally friendly cruise ships, car-passenger ferries and special vessels. In addition to the two sister shipyards in Germany, Meyer Werft in Papenburg and Neptun Werft in Rostock, Meyer Turku is one of the world’s leading cruise shipbuilders.
This is a prestigious project for Otis since it showcases its ability to support iconic shipping projects. Otis is likely to provide energy efficient, secure and reliable services for such highly advanced ships.
The four next-generation ships will comprise around 2,500 cabins, will be over 180,000 gross tons in size and will include a number of guest-friendly features to provide its passengers a comfortable journey.
The elevators and escalators will be provided by Otis’ operating entity in Spain, Zardoya Otis. The company is known for its highly advanced products designed to withstand damp and the saline sea environment. The elevators to be installed in these ships will contain highly integrated operational modes and RFID-based priority service for passengers. In addition, these elevators will be equipped with the Otis EMS Panorama management system and ReGen technology.
The four new ships will be utilizing liquefied natural gas in dual-powered hybrid engines to provide power to the ship both in port and at sea. This innovative technology has made these ships the first of its kind in the cruise industry.
Otis is a leading provider of elevator and escalator services. The company offers its services to over 200 countries and territories. Alongside, it maintains more that 1.9 million elevators and escalators worldwide. With a constant focus on innovation and expansion, Otis is likely to procure more such prime contracts in the near future.
United Technologies, the parent company of Otis, currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth a glance include WageWorks, Inc. , ExamWorks Group, Inc. and Koninklijke KPN N.V. (KKPNF - Free Report) . All three stocks carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>