FARMINGTON, Conn., March 12 /Xinhua-PRNewswire/ -- The president of the world’s largest elevator company met last week with government officials and customers in Ho Chi Minh City to explore market opportunities and to affirm Otis’ commitment to growing its operations in Vietnam. Otis Elevator Company is a unit of United Technologies Corp. (NYSE: UTX).
“Vietnam has emerged as one of the most promising markets for growth. As the oldest and largest elevator company in the world, Otis possesses the global network of knowledge and experience to satisfy the growing demands of this market,” said Otis President Ari Bousbib. “I am pleased to affirm Otis Elevator Company’s commitment to expand and train our workforce, preserve natural resources with ‘green’ products and participate as good neighbors in our local communities in Vietnam.”
During the weeklong trip, Bousbib and his senior management team met with Le Hoang Quan, Chairman of the People’s Committee of Ho Chi Minh City, to exchange views on Vietnam’s growth, the government’s economic plan and Otis’ commitment in Vietnam. The Otis executive team also met with customers, local business leaders of multi-national corporations and Otis employees, and toured Otis installations and job sites.
Otis installed its first elevator in Vietnam in 1929 at the Presidential Palace in Hanoi and the country's first moving walkway in 2006 at the Big C Thang Long Supermarket in Hanoi. Earlier this month, four of Otis' flagship Gen2(R) machine-roomless elevators were put into use at the Phu My Hung residential tower in Ho Chi Minh City. As a machine-roomless product, the Gen2 elevator saves space because there is no need for a rooftop machine room, which allows customers greater flexibility in the building design phase. Otis’ patented flat-belt drive technology on the Gen2 product line provides a quieter, smoother ride than conventional elevators. The Gen2 system is also environmentally friendly and energy efficient. Its coated-steel belts and gearless machine do not require lubrication, and its gearless, permanent-magnet machine consumes uses half the energy of conventional geared machines.
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 61,000 people, offers products and services in more than 200 countries and territories and maintains 1.5 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.
