Otis Ceases New Elevator, Escalator Orders in Russia

Otis, in light of the unfolding crisis in Ukraine and ongoing supply-chain disruptions, is ceasing new elevator and escalator orders in Russia, which represented approximately 2% of its 2021 revenue, the company announced on March 11. Otis will continue to fulfill existing agreements and provide essential equipment maintenance, while remaining in full compliance with all sanctions. The Farmington, Connecticut-based OEM is contributing to Global Giving’s Ukraine Crisis Relief Fund and the UN Refugee Agency, and is also matching employees’ financial contributions. “The ensuing loss of life and the escalating refugee crisis are tragic,” Otis said. “Guided by our values, we are working diligently to ensure we do the right thing for our colleagues impacted by this decision.”