FARMINGTON, Conn., April 25 /Xinhua-PRNewswire/ -- Otis Elevator Company, a unit of United Technologies Corp. (NYSE: UTX), won a nearly $4 million contract to supply and install elevators at The St. Francis Shangri-La Place, expected to be the tallest residential towers in the Philippines.
"We are honored that The Shang Grand Tower Corporation, a member of the prestigious Kuok Group, has selected Otis to provide elevators for this exclusive residential project in the heart of Manila's metropolitan area," said Sebi Joseph, President and general manager of Otis Philippines.
The Kuok Group is renowned for its expertise in property development, most notably its award-winning Shangri-La chain of hotels and resorts, in addition to other highly acclaimed residential, commercial and industrial developments throughout Asia. The group's latest residential development is The St. Francis Shangri-La Place, which consists of two 60-floor luxury high-rise residential towers in the Ortigas business district of Mandaluyong City.
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.
