Pursuits
Land of a Million Elevators Revives to Lift Spain’s Otis
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The view from the top floor of the Madrid headquarters of the Otis Elevator Company is that a recovery for Spanish real estate is at last in sight.
“We still need one more year to see clear growth in new building, but the outlook is improving,” said Bernardo Calleja, chief executive officer of Zardoya Otis SA, the company’s Spanish unit, in an interview in Madrid. “We will be selling more elevators in Spain in 2015 for sure.”