|COMPANY NAME||OTIS ELEVATOR COMPANY (I) LTD.|
|NATURE OF BUSINESS||MANUFACTURER OF ELEVATOR AND ESCALATORS|
|YEAR OF EASTBLISHMENT||1953|
|REGISTERED ADDRESS||Magnus Tower, 9th Floor, Mindspace,Link Road, Malad (West),Mumbai - 400 064 .|
The Otis Elevator Company is an American company (owned by United Technologies) that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment. Based in Farmington, Connecticut.
Otis is the world’s largest manufacturer of vertical transportation systems, principally focusing on elevators, moving walkways, and escalators.
The company pioneered the development of the “safety elevator”, invented by Elisha Otis in 1852, which used a special mechanism to lock the elevator car in place should the hoisting ropes fail.
Otis has installed elevators in some of the world’s most famous structures, including the Eiffel Tower, Empire State Building, the original World Trade Center, The Twilight Zone Tower of Terror, Petronas Twin Towers, Burj Khalifa, CN Tower, the Winchester Mystery House, the Hotel del Coronado, the Demarest Building (first electric elevator), the Singing Tower at Bok Tower Gardens, and the Skylon Tower.
OTIS continues to be the largest Company in terms of Service Portfolio and Revenue, in India. Today, the Company has a network of 97 Service Centers spread across India, serving more than 300 Cities and Towns.
The Company offers Products and Services in more than 300 Countries and Territories worldwide. The Otis Elevator Company was acquired by United Technologies in 1976, but it was spun off as an independent company 44 years later in April 2020 as ‘Otis Worldwide Corporation’.
OTIS has paid an interim dividend of 1500%, being INR 150 per equity share of INR 10 each for the financial year 2020-21.