Otis Selected for Landmark Hudson Yards Development

NEW YORK, March 23, 2015 - Otis has entered into a multimillion-dollar agreement with Related Companies to supply elevator and escalator units for the new Hudson Yards development in Manhattan's West Side. As part of its contract, the world's largest manufacturer and maintainer of people-moving products will provide 73 units for 30 Hudson Yards, a 92-story, 2.6 million-square-foot tower that will be among the first to be constructed at the site. Founded by the inventor of the safety elevator, Otis is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp. (NYSE: UTX).

The 28-acre Hudson Yards development is being built over a functioning railroad system and will offer more than 17 million square feet of office, retail, residential and hotel space. As part of this agreement, the office tower at 30 Hudson Yards will include 56 Otis Skyrise™ elevators, 11 NCE energy-efficient, environmentally responsible escalator systems, five hydraulic elevators and one geared freight elevator. The elevators will use Otis' CompassPlus™ destination management system, which organizes travel to provide a personalized passenger experience and improved traffic flow while saving energy.

"We are pleased to have Otis as one of our partners on this groundbreaking achievement," said Emad Lotfalla, senior vice president of construction for Related Companies, one of the developers of the project. "Hudson Yards is the largest private real estate development in the history of the United States. It will transform the landscape of Manhattan's west side into a thriving commercial and residential center built atop of one of the world's busiest railroad yards. This is a significant milestone in Manhattan's development history."

"United Technologies is proud to provide its advanced systems and legacy of innovation to this historic and exciting project," said Bob McDonough, chief operating officer, Americas, UTC Building & Industrial Systems. "Every day, our Otis products move millions of people safely and efficiently. We're pleased to support Hudson Yards with our strong record and proven technologies that make buildings smarter and more energy efficient."

"Otis is honored to supply our latest elevator and escalator products for this innovative project," said Tom Vining, president, Americas, Otis. "We are working closely with project stakeholders to ensure that everyone who visits, works or lives at Hudson Yards benefits from our high-performing equipment that combines a superior passenger experience with green technology."

The Hudson Yards project is being developed by Related Companies and Oxford Properties Group. On-site elevator and escalator work is expected to begin in the first half of 2016.

More information about Otis and its products can be found at www.otis.com or on Twitter @OtisElevatorCo.

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 1.8 million elevators and escalators worldwide. Otis is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.otis.com or follow @OtisElevatorCo on Twitter.

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