Otis China Expands Agreement with Evergrande Group

Evergrande 1_Otis provides 77 units for Evergrande Beijing Huating residential project

TIANJIN, China, April 14, 2016 – Otis Elevator (China) Co., Ltd. (“Otis China”) has extended through the end of 2016 its elevator and escalator supplier agreement with Evergrande Group, one of China’s leading real estate developers. Otis, the world’s largest manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways, is a unit of United Technologies Corp. (NYSE: UTX).

Under an agreement that stretches back to 2007, Otis China has supplied more than 11,500 elevators and escalators to more than 1,000 Evergrande projects in 25 provinces and municipalities throughout China. These projects span across commercial, residential and hotel properties such as Hefei Evergrande Center, Ocean Flower Island in Hainan, Evergrande City Beijing and Evergrande Oasis Shenyang.

Under the new agreement, Evergrande will continue to deploy Otis solutions, including the Otis Gen2® elevators, Skyrise® elevators and Link escalators, in its new projects.

“This new agreement is a milestone in our long-term relationship with Evergrande Group, demonstrating Otis as a trusted choice for supporting Evergrande’s premium property developments in China,” said Tony Black, president, Otis Elevator (China) Investment Co., Ltd.

About Otis
Otis is the world’s largest 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, and maintains more than 1.9 million elevators and escalators worldwide. 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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