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United Technologies' Otis Wins Xiamen Contract in China
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Otis Elevator – a unit of United Technologies Corp. , was recently awarded a contract to provide 169 elevators for Xiamen International Trade Group’s (Xiamen ITG) high-end residential projects. The projects are under construction in Fujian province, in China. The financial aspects of the deal remain under wraps.
About Xiamen ITG
Founded in1980, Xiamen ITG has established itself among the top 100 real estate players in China. It is associated with high-end projects, which include the Xiamen ITG Top Mansion, Hefei ITG Top Mansion and Nanchang ITG Top Mansion.
The Deal
Per the deal, Otis will provide 163 Gen2 elevators, which are integrated with the advanced ReGen technology and will ensure energy savings of approximately 75%. It will also provide six Sky elevators which will reduce energy consumption and simplify maintenance, while ensuring ride quality. The elevators will be provided by Otis Elevators (China).
As a world’s leading provider of safe and innovative elevator technology, Otis continues working on improving its elevator and escalator services due to which it keeps winning such contracts.
The company 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.
Since the beginning of the year, Otis has been winning major deals in China. This will enable the company to improve its regional top-line growth.
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.
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United Technologies' Otis Wins Xiamen Contract in China
Otis Elevator – a unit of United Technologies Corp. , was recently awarded a contract to provide 169 elevators for Xiamen International Trade Group’s (Xiamen ITG) high-end residential projects. The projects are under construction in Fujian province, in China. The financial aspects of the deal remain under wraps.
About Xiamen ITG
Founded in1980, Xiamen ITG has established itself among the top 100 real estate players in China. It is associated with high-end projects, which include the Xiamen ITG Top Mansion, Hefei ITG Top Mansion and Nanchang ITG Top Mansion.
The Deal
Per the deal, Otis will provide 163 Gen2 elevators, which are integrated with the advanced ReGen technology and will ensure energy savings of approximately 75%. It will also provide six Sky elevators which will reduce energy consumption and simplify maintenance, while ensuring ride quality. The elevators will be provided by Otis Elevators (China).
UTD TECHS CORP Price
UTD TECHS CORP Price | UTD TECHS CORP Quote
Moving Forward
As a world’s leading provider of safe and innovative elevator technology, Otis continues working on improving its elevator and escalator services due to which it keeps winning such contracts.
The company 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.
Since the beginning of the year, Otis has been winning major deals in China. This will enable the company to improve its regional top-line growth.
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, the parent company of Otis, currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry include CLARCOR Inc. , Barloworld Ltd. (BRRAY - Free Report) and Crane Co. (CR - Free Report) . All three stocks carry a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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