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OTIS - Otis Worldwide Corp
0.59(0.91%)9:00:02 PM 1/15/2021
Otis Worldwide Corporation is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment. Based in Farmington, Connecticut, U.S, Otis is the world's largest manufacturer of vertical transportation systems, principally focusing on elevators, moving walkways, and escalators. The company pioneered the development of the "safety elevator", invented by Elisha Otis in 1852, which used a special mechanism to lock the elevator car in place should the hoisting ropes fail.
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    Otis Worldwide Corporation (NYSE: OTIS) received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 2 million shares, or about 0.46 percent, of Otis's outstanding common stock at a price of $62.75 per share in cash. As TRC Capital's own offer document acknowledges, the offering price is approximately 4.62 percent below the closing price per share of Otis on Dec. 24, 2020, the last trading day before the mini-tender offer was commenc...

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    Otis recalling private home elevators reports of 'crushed spine and abdomen' and other injuries

    Otis Worldwide Corp.'s subsidiary Otis Elevator Co., and former Otis sub CemcoLift Elevators Systems, is recalling about 5,000 private residence elevators, after at least four incidents that resulted in "a crushed spine and abdomen, fractured hip, broken arm and feet and bruising to the face and chest." The recall involves "Otis and CemcoLift Private Residence Elevators" made in the U.S.A. and purchased from 1999 to 2012 at a cost of about $20,000 to buy and install. "Children can become entrap...

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    Otis Celebrates Bestselling Gen2® Elevator - Over 1 Million Units Sold

    As Otis marks the 20th anniversary of its flagship Gen2® elevator, it also celebrates a noteworthy milestone: surpassing 1 million units sold, making this revolutionary elevator its all-time bestselling system. Otis Worldwide Corporation (NYSE: OTIS) is the world's leading company for elevator and escalator manufacturing, installation and service.

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