Otis Worldwide : King Felipe VI of Spain Inaugurates Otis' New State-of-the-Art Factory | MarketScreener

2022-06-16 15:50:41 By : Ms. Vicky Lei

Otis invested 20 million euros in San Sebastian factory dedicated to quality manufacturing and continues support of the skilled workforce in Spain

Today Otis Worldwide Corporation (NYSE: OTIS ), the world's leading company for elevator and escalator manufacturing, installation and service, in the presence of King Felipe VI of Spain and several other distinguished guests, inaugurated its newest industrial facility in San Sebastian, Spain. The new 17,000 square meter site builds on the legacy of the previous factory established in the region in the 1920s.

"Today's inauguration marks our renewed commitment to developing high-precision manufacturing in the Basque Country," declared Judy Marks, Chair, Chief Executive Officer and President, Otis Worldwide Corporation. "Our products, services and geographic footprint in Spain are critical components of our long-term growth strategy. With this new factory, we will continue to develop and produce innovative mobility solutions that are ever more efficient and connected."

Otis' production in San Sebastián is focused on manufacturing elevator machines, governors and safeties. With 80% of its production exported, the new factory will be recognized globally for modern approaches and innovation inherent to the Basque Country.

The new factory offers more sustainable and modern facilities for colleagues and will take on new strategic projects to benefit customers. For example, improvements in space management and manufacturing processes made it possible to expand the range of machines produced at the factory. As a result, the factory will start to manufacture the Electronic Safety Actuator for the new, connected Gen360TM platform, the latest generation of Otis elevators.

The new San Sebastián factory was built with sustainable construction materials - such as steel, prefabricated concrete and aluminum - to reduce environmental impact. Like all Otis factories in Spain, the factory is powered by 100% renewable (zero carbon) energy. It is designed for high energy efficiency with a project underway to install solar panels producing the equivalent of up to 25% of the baseload electricity demand for the site. The factory aims to be certified LEED Gold before year end with a target to become LEED Platinum soon after.

Otis Worldwide Corporation published this content on 16 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2022 15:22:01 UTC.

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