Otis Expresses Strong Confidence in Its Development in Tianjin

Otis celebrated the 40th anniversary of its operations in China with a ceremony held in TEDA on 7th November. On the next day, Tianjin Municipal People’s Government and Otis signed a strategic cooperation agreement, aiming to boost their cooperation on smart manufacturing, elevator modernization, aftermarket services, and talent development. Additionally, the Tianjin Economic-Technological Development Area (TEDA) Administrative Commission and Tianjin BENEFO Machinery Equipment Group Co., Ltd. also signed agreements with Otis Elevator (China) Co., Ltd.

Judy Marks, Chair, Chief Executive Officer and President of Otis Worldwide Corporation said, “We entered into China in 1984 when China originally opened up. We settled here in Tianjin and in TEDA because of the availability of quality, skilled people. And it allowed us to start. As China is emerging, Otis China had the opportunity to emerge. We spent the last 40 years building a very strong business here, focused on high-quality development, focused on supplying equipment and services for urbanization.” Judy stated that her trip to Tianjin is to celebrate 40 years of strong relationships with the government. “It’s been a supportive ecosystem. 40 years with a great supply base. We are doing a global supplier conference today to continue to enhance our relationships and support our growth. Tianjin has been our home to us while we expanded across all over China, Tianjin is home. TEDA has been home. It’s our largest single largest manufacturing facility anywhere in the world of our 17 factories. We also last year established our northern R&D center here. Our vision is to allow people to connect and thrive in a taller, faster, smarter world. I can’t think of a better place to do that than in Tianjin.” she said.

Founded in 1853 and based in Connecticut, U.S., Otis is the world’s largest manufacturer, installer, and service provider focusing on elevators, escalators, and moving walkways. As one of the earliest foreign investors entering China, Otis established a robust joint venture with the former Tianjin Elevator Company in 1984. Since then, Otis kept increasing its investments in Tianjin and across China. Today, the TEDA Manufacturing Base has developed into Otis’ largest elevator manufacturing base worldwide, the world’s only high-speed elevator manufacturing base, and a major global production site for traction machines, core components of elevators.