Introduction
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Otis Elevator Company is a global manufacturer and marketer of elevators, escalators and moving walkways. Founded in Yonkers, New York in 1853 by Elisha G. Otis, the company pioneered the first safety brake system for elevators. The firm was incorporated in 1867 as The Otis Elevator Company
Size and launch of elevator company
Otis Elevator Company was founded in 1853 by Elisha Otis, who invented a mechanism that allowed elevators to be safely stopped at any height. The company was re-incorporated in Massachusetts as Otis Elevator Company in 1900.
Otis has since become one of the world’s largest manufacturers and suppliers of elevators, escalators and moving walks, with products installed on 99% of the world’s passenger cars. Its service network spans more than 160 countries around the globe; its products are used to transport millions of passengers every day across all seven continents.
Named after founder’s son
The name Otis is a nod to the founder’s son, Elisha Graves Otis. In 1852, Elisha became the first person to ride an elevator (at his father’s factory). He went down in history as “the safety engineer” because of his invention. The company was eventually named after him and continues to sell its products under that name today.
Elisha was born in 1811 in Vermont and died at age 50 on August 21st 1861 in New York City where he was living at the time. He wasn’t just an inventor though—he was also a farmer!
Produces elevators for world market
Otis Elevator Co., a division of UTC Aerospace Systems, is the world’s largest manufacturer of elevators and escalators. The company was founded in 1853 by Elisha Otis as a manufacturer of safety brakes for elevator cars. Otis incorporated the company in 1873 and opened the first plant in Yonkers, NY where it remained until 1937 when it moved its operations to Harrison, NJ. In addition to selling to commercial buildings throughout North America, Otis also sells its products internationally through manufacturing plants located around the globe.
First elevator installed in New York City store
Otis is a company that installed the first elevator in New York City. The first elevator installed in New York City was at the Haughwout Building, which was built in 1857 and is still standing today. Otis was founded by Elisha Graves Otis, who invented an automatic safety brake for elevators that prevented them from falling if their hoisting ropes broke or were cut.
The Otis Company currently has more than 50 brands under its name, including Thyssenkrupp, KONE Corporation and Mitsubishi Elevator & Building Systems Corporation who are major competitors of United Technologies Corp (UTC), one of their largest shareholders with about 9% ownership stake as well as owning UTC’s Carrier brand of HVAC systems since 2016. Otis has acquired several other companies such as German-based Schindler Group (1997) and Italian-based CIVI FIMIT SGR SPA (2010).
Otis Elevator Co. acquired by the United Aircraft Corp. in 1929
Otis Elevator Co. is a subsidiary of United Technologies Corporation, a $73 billion global aerospace and building systems company. The Otis brand represents global leadership in building and industrial equipment, including elevators and escalators as well as safety, security and fire protection products.
Otis employs more than 58,000 people in over 160 countries around the world and has sales of $15 billion annually.
Purchased by United Technology Corp. in 1976
In 1976, Otis was acquired by United Technologies Corporation (UTC). The company is a Fortune 500 conglomerate that produces a variety of products and services, including elevators, aircraft engines and defense systems. In addition to Otis Elevator Company, UTC also owns Pratt & Whitney and Sikorsky Aircraft.
The acquisition marked the start of what would become the largest elevator company in the world. Under UTC’s ownership, Otis has continued to grow exponentially in both size and revenue generation. It now employs more than 7,000 people worldwide with operations in over 50 countries around the globe from its headquarters in Farmington Hills, Michigan.
Their business model is based on making elevators and selling them around the world.
Otis Worldwide is a global company that makes elevators and sells them around the world.
Conclusion
This company has been around for a long time and is still going strong today. The Otis Elevator Company was founded in 1853 by Elisha Graves Otis. It was originally named the E.G. Otis & Co., which stands for “Elisha Graves Otis & Co.”
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