Innovation lands Otis a record-breaking contract with 19 shopping centers in Eastern Europe

Otis Elevator Company, a unit of United Technologies Corp. (NYSE:UTX), has been awarded a contract valued at $74 million with ECE Europa Bau-- & Projektmanagement GmbH to supply and install elevators, escalators and moving walkways for 19 shopping centers planned throughout Europe.

This is Otis' largest contract in Europe.

ECE, the leading developer of urban shopping centers in Europe, is developing the 19 centers in Austria, Bulgaria, Czech Republic, Hungary, Poland, Romania, Russia, Switzerland, Turkey and Ukraine. The majority of the units Otis will provide consist of escalators and  Gen2® machine-roomless elevator systems with flat belt technology. The Gen2 elevator's patented flat, polyurethane-coated steel belt requires no additional lubrication, making it more efficient and cleaner for the environment. In addition, the Gen2 system incorporates gearless permanent magnet motors, reducing energy usage by up to 50 percent compared to conventional systems.

"We have chosen Otis because of its innovative elevator systems and a successful cooperation in the past," said Jens Kohlmorgen, managing director of ECE Europa Bau- & Projektmanagement. "Furthermore, Otis delivers high value for the money."

In 2004, ECE Europa Bau- & Projektmanagement awarded Otis $22 million in contracts for eight new shopping malls in Austria and several other Eastern European countries and these installations have been completed.

Otis Elevator Company is the world's largest manufacturer and maintainer of people-moving products including elevators, escalators and moving walkways. With headquarters in Farmington, Connecticut, Otis employs 63,000 people, offers products and services in more than 200 countries and territories and maintains 1.6 million elevators and escalators worldwide. United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.

The ECE Group has 94 shopping centers under management in Germany, Turkey, Poland, Hungary, Czech Republic, Austria, Greece and Qatar. These comprise a combined retail space of 2.9 million square meters (31,215,340 square feet) and are home to about 10,000 tenants. Another 27 shopping centers are currently under construction or in the planning stage.

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