Otis Electric Elevator Company Inaugurated in Hangzhou

HANGZHOU,China, Oct. 18, 2016 – Otis Electric Elevator Co., Ltd. was officially inaugurated in Hangzhou today as the successor to the Xizi Otis brand, retaining its existing elevator and escalator manufacturing operations, extensive sales and service network, management and workforce. Otis Electric is a sub-brand of Otis, the world’s leading manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways, a unit of United Technologies Corp. (NYSE: UTX).

Xie Shuangcheng, Vice Mayor of Hangzhou, Otis President Philippe Delpech, Otis China President Perry Zheng and Otis Electric President Lawrence Chui officiated at the inauguration ceremony attended by some 200 guests including key agents and customers.

"Otis Electric underscores our commitment to serving the evolving needs of this important and diverse region," said Delpech, Otis president. "This new brand will focus on sustainable and tailored solutions to satisfy customer needs, especially in the residential, commercial and infrastructure segments.”

Since establishing its presence in Hangzhou 19 years ago, the company now known as Otis Electric has been a role model for foreign-invested enterprises in Hangzhou. The Hangzhou authorities congratulated the company on its new chapter as Otis Electric and look forward to its continuing success.

During the inauguration, Otis Electric also announced the shipment of the 400,000th unit from its production lines. It was delivered to Hangzhou Metro for use on its new Line 2. The company has supported Hangzhou Metro by supplying elevators and escalators since 2008, when Line 1 was under construction.

Hangzhou Metro and Otis Electric are both dedicated to supporting the urbanization of Hangzhou. Since their work together began, nearly 1,000 Otis Electric elevators and escalators have been installed on the Hangzhou Metro rail network. Otis Electric is dedicated to playing an important role in Hangzhou’s transport infrastructure development.

About Otis Electric
Otis Electric, a brand of Otis, was introduced to China in January 2016. Otis Electric has manufacturing facilities in Hangzhou and Chongqing, as well as an accredited testing laboratory and over 240 branches and service depots across China. With strong capabilities to deploy the latest technologies in products and services, Otis Electric is dedicated to satisfying customer needs, especially in the residential, commercial and public infrastructure segments.

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 more than 200 countries and territories. Otis is a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.otis.com.

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