Contractor Selects Otis for Luxury Sao Paulo Complex

Otis Elevator Company, a unit of United Technologies Corp. (NYSE: UTX), was awarded a contract to supply, install and maintain 49 elevators and escalators for the Parque Cidade Jardim complex, one of the largest luxury mixed-use developments under construction in Sao Paulo.

When completed, the development will consist of a mall, nine residential towers and four commercial complexes. For the first phase of the project, Otis will provide 16 escalators and 11 Gen2(R) elevators for the mall and another 22 elevators for the residential complex. The elevators in the residential towers will have Otis Digital Key, a device that allows access to authorized visitors through fingerprint-recognition readers.

Luiz Carlos Marchi, engineering director of JHSF, the contractor for the development, said, "JHSF's philosophy is to select a vertical transportation provider that offers the most advanced technology. Otis' Gen2 elevator is a great innovation that will bring many benefits to visitors of Parque Cidade Jardim."

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 half the energy of conventional geared machines.

"We are pleased JHSF has selected Otis' products and maintenance services for one of the most prestigious projects in the Sao Paulo area," said Otis President Ari Bousbib.

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.