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May 06, 2015 9:14 PM ET

Machinery

Company Overview of Otis Elevator Company, Inc.

Company Overview

Otis Elevator Company, Inc. manufactures, installs, and maintains elevators, escalators, and moving walkways. The company offers machine-roomless, gearless traction, and geared traction elevators; and escalators and moving walkways for airports, transit systems, and shopping centers. It also offers various maintenance programs and building support systems, including Communications Center services; Remote Elevator Monitoring; a Web-based EMS Panorama system that enables building staff to monitor, control, report on, and manage a range of operation-critical functions from any computer with an Internet connection; and eService Website that provides building owners and managers with around-the-c...

1 Farm Springs Road

Farmington, CT 06032-2557

United States

Founded in 1853

Phone:

860-676-6000

Fax:

860-660-8682

Key Executives for Otis Elevator Company, Inc.

Chief Financial Officer and Vice President
Age: 59
Vice President of Operations
President of North & South America Area
President of North Europe & Africa Area
Compensation as of Fiscal Year 2014.

Otis Elevator Company, Inc. Key Developments

Otis Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Otis reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of $2,745 million compared to $2,955 million a year ago. Operating profit was $527 million compared to $570 million a year ago. Adjusted operating profit was $533 million compared to $587 million a year ago.

Otis Elevator Company Unveils New Elevator Design and Functionality

Otis Elevator Company has unveiled new elevator design and functionality. With the new elevator design concepts unveiled by Otis during MIPIM, the international real estate show for professionals, elevator interior design and connectivity become the focus of the elevator experience. The elevators provide continuity with the architecture and design of a building, a shared space transporting passengers and providing an experience that contributes to building occupants' quality of life. Otis worked with designers to create two ambiances, "natural" and "modern," which feature four designs each. Among the notable features, the cab interior is lit with indirect LED lighting, integrated in the cab's four corners to provide an impression of space and depth and to highlight each material's texture. Inspired by early 20th-century architecture, the natural ambiance creates a harmonious connection between the elevator, hallway and lobby. Priority was given to the use of natural materials such as wood, stone and leather, combined with minimalist forms. The rounded lit corners of the cab add comfort in a space with limited dimensions. In keeping with modern architecture, the modern designs feature materials that convey a high-tech feel and shapes that highlight the combination of metal texture and bright glossy color. This range features contrasts between the dark decorative elements and the vertical illumination. The design is sleek and efficient. The new designs also feature integration of multimedia and interactive services such as: a full HD screen positioned in the control panel that provides relevant information to passengers, such as news, weather and traffic; and a smartphone app which allows passengers to remotely call the elevator while walking in the building.

Otis Wins Elevator/Escalator Contracts at Hudson Yards

Otis has agreed with the privately-held Related Companies to supply elevator and escalator units for the under-development Hudson Yards project in Manhattan's West Side. No terms were disclosed. United Technologies said Otis will supply 73 units for the 30 Hudson Yards tower, a 92-story, 2.6 million-square-foot skyscraper that will be among the first to be constructed at the 28-acre site. United Technologies said on-site elevator and escalator work is expected to begin in the first half of 2016.

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