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United Technologies' Otis Wins Marriott Contract in China
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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 a luxurious new Marriott International, Inc. (MAR - Free Report) hotel being built in Xiamen, southeast China.
The new Marriott hotel will require 30 Otis elevators and escalators, including seven of Otis’s SkyRise elevators which are used for high-rises and move at a speed of up to 6 meters per second.
As a world’s leading provider of safe and innovative elevator technology, Otis continues working on improving its elevator and escalator services for which it keeps winning such contracts.
Marriott is a leading luxury hotel chain with presence across various locations in the world. To date, Otis has worked in various projects of the company. Such projects enhance the company’s goodwill and prove its reliability.
Otis has provided its expertise in iconic high-rise buildings across the globe, some of which include the 828-meter Burj Khalifa in Dubai, the 599-meter Ping'An Financial Center in Shenzhen, the 555-meter Lotte World Tower in Seoul, 553-meter CN Tower in Toronto and one of the Seven Wonders of the World – the 324-meter high Eiffel Tower.
Earlier this year, the company announced that it would build a new elevator test tower in Shanghai. This test center will be a part of its new global research and development (R&D) facility. The test center is expected to be approximately 270 meters in height and is likely to be the tallest test tower in the world upon completion. The much anticipated R&D facility is likely to be completed and functioning by the end of 2018.
Otis is likely to procure more such prime contracts in the near future, given its focus on innovation and expansion. Since it is already one of the most trusted elevator and escalator companies in the world, its sustained R&D focus will augment top-line growth.
The company offers its services to over 200 countries and territories. Alongside, it maintains more than 1.9 million elevators and escalators worldwide.
United Technologies carries a Zacks Rank #3 (Hold). A couple better-ranked stocks in the industry include Leucadia National Corporation and Swire Pacific Limited (SWRAY - Free Report) , each carrying a Zacks Rank #2 (Buy).
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United Technologies' Otis Wins Marriott Contract in China
Otis Elevator – a unit of United Technologies Corp. – was recently awarded a contract to provide its elevator and escalator services for a luxurious new Marriott International, Inc. (MAR - Free Report) hotel being built in Xiamen, southeast China.
The new Marriott hotel will require 30 Otis elevators and escalators, including seven of Otis’s SkyRise elevators which are used for high-rises and move at a speed of up to 6 meters per second.
As a world’s leading provider of safe and innovative elevator technology, Otis continues working on improving its elevator and escalator services for which it keeps winning such contracts.
Marriott is a leading luxury hotel chain with presence across various locations in the world. To date, Otis has worked in various projects of the company. Such projects enhance the company’s goodwill and prove its reliability.
UTD TECHS CORP Price
UTD TECHS CORP Price | UTD TECHS CORP Quote
Otis has provided its expertise in iconic high-rise buildings across the globe, some of which include the 828-meter Burj Khalifa in Dubai, the 599-meter Ping'An Financial Center in Shenzhen, the 555-meter Lotte World Tower in Seoul, 553-meter CN Tower in Toronto and one of the Seven Wonders of the World – the 324-meter high Eiffel Tower.
Earlier this year, the company announced that it would build a new elevator test tower in Shanghai. This test center will be a part of its new global research and development (R&D) facility. The test center is expected to be approximately 270 meters in height and is likely to be the tallest test tower in the world upon completion. The much anticipated R&D facility is likely to be completed and functioning by the end of 2018.
Otis is likely to procure more such prime contracts in the near future, given its focus on innovation and expansion. Since it is already one of the most trusted elevator and escalator companies in the world, its sustained R&D focus will augment top-line growth.
The company offers its services to over 200 countries and territories. Alongside, it maintains more than 1.9 million elevators and escalators worldwide.
United Technologies carries a Zacks Rank #3 (Hold). A couple better-ranked stocks in the industry include Leucadia National Corporation and Swire Pacific Limited (SWRAY - Free Report) , each carrying 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 >>