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Otis Brazil Completes Acquisition of Mitsubishi Electric’s elevators and escalators Business in Brazil

Assinatura Contrato Otis e Mitsubishi Eletric

SAO PAULO, Brazil, November 22, 2017 — Elevadores Otis Ltda.(“Otis Brazil”) and Melco Elevadores do Brasil S.A., a subsidiary company of Mitsubishi Electric Corporation, today announced that Otis Brazil has completed the acquisition of Mitsubishi Electric’s elevators and escalators business in Brazil. Otis Brazil will be the exclusive and authorized service provider of Mitsubishi Electric and LGTech Brand elevators and escalators equipment in Brazil. Otis, the world’s leading manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways, is a unit of United Technologies Corp. (NYSE: UTX).

In addition to being the authorized service provider, Otis Brazil will have access to original spare parts and solutions for continued maintenance and modernization of Mitsubishi Electric’s elevators and escalators in Brazil.

“We look forward to introducing ourselves to new customers and are proud to offer them our best-in-class service based on quality, safety and comfort for users,” said Julio Bellinassi, managing director, Otis South America.

"We are pleased to announce that we have successfully completed the transfer of Mitsubishi Electric’s elevators and escalators business in Brazil to Otis Brazil. We are confident this will ensure that our customers continue to receive the best service." said, Iwao Oda, senior general manager, Building Systems Group, Mitsubishi Electric Corporation.

About Otis
Otis is the world’s leading manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways. Founded more than 160 years ago by the inventor of the safety elevator, Otis offers products and services through its companies in approximately 200 countries and territories. Otis is a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs. For more information, visit www.otis.com, or follow Otis on LinkedIn, YouTube and as @OtisElevatorCo on Twitter, Facebook and Instagram.