Major Otis Contracts in China and Hong Kong SAR

Otis President, CEO and Chair Judy Marks announced during a January 31 earnings call that the company is handling a new-equipment contract in Chongqing, China, and a modernization contract in the Hong Kong Special Administrative Region (SAR). In Chongqing, Otis is “building on decades of close cooperation with the nation’s metro providers to help expand urban transport and city development.” The OEM is providing 237 elevators and escalators for Line 15 of the Chongqing Metro in western China. The units will incorporate the Otis ONE^TM Internet of Things solution. In the Hong Kong SAR, Otis has been selected by longtime customer the Hong Kong Housing Authority to modernize 18 elevators at Ching Ho Estate. The new units will use gearless machines with energy-efficient drives to meet the project’s sustainability goals. Otis will also maintain the units upon modernization completion.