Otis Elevator Company Saudi Arabia Ltd., part of Otis Elevator Company, (a unit of United Technologies CorpUTX), announced that it has won six contracts to supply and install 263 elevators, which include 10 double-deck elevators and 90 escalators to different buildings in the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia.

Otis is expected to install 25 elevators and eight escalators in the KAFD World Trade Centre and 30 elevators and four escalators in the GCC Bank Headquarters.

Otis double-deck elevators at both the KAFD World Trade Centre and GCC Bank Headquarters will help save space, thereby freeing up space for renting. Typically, depending on the building, double-deck elevators save up to 40% more space than traditional elevators. These double deck elevators also increase transportation capacity by up to 30%. In addition, Otis double-deck elevators also enable building developers to create taller structures with a more limited ground-level footprint.

The installation at the KAFD World Trade Centre is expected to be complete by the end of fiscal 2012.

In addition, Otis products have also been selected by other global trade and financial centers, including the Shanghai World Financial Center in China and both the World Trade Center Transportation Hub and 7 World Trade Center in lower Manhattan.

Otis is the world’s largest elevator and escalator manufacturing, installation and service company. Otis designs, manufactures, sells and installs a wide range of passenger and freight elevators for low-, medium- and high-speed applications, as well as a broad line of escalators and moving walkways.

In addition to new equipment, Otis provides modernization products to upgrade elevators and escalators as well as maintenance and repair services for both its products and those of other manufacturers. Otis serves customers in the commercial and residential property industries around the world. Otis sells directly to the end customer and through sales representatives and distributors.

During fiscal 2011, revenue generated by Otis’ international operations was 83% of the total Otis segment sales. Further, Otis had a backlog worth $14.3 billion and the company expects to realize approximately $8.0 billion from the order backlog in fiscal 2012.

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