Otis to Install 28 Gen2(TM) Elevator Systems at Apartment Complex in Austria VIENNA, Austria, March 27 /PRNewswire-AsiaNet/ -- Otis Elevator Co. announced today it will provide 28 Gen2(TM) elevator systems to an apartment complex in Linz, Austria, the first major order for the company's revolutionary new product for low- and mid-rise buildings. Otis is a unit of United Technologies Corp. (NYSE: UTX). The elevator systems will be installed in the second half of the year in four cooperative housing buildings located in Linz, a city of 250 thousand located approximately 112 miles (180 kilometers) west of Vienna. The contract is worth more than (US) $2 million, and includes a maintenance agreement. "Just weeks after introducing the Gen2(TM) elevator system to the world, we are already seeing results in the marketplace," said Otis President Steve Page. "The system's quiet operation, excellent ride quality, and superior energy-efficiency helped sell this job, and we are optimistic about future orders." Otis announced the arrival of the Gen2(TM) elevator system at press conferences around the world on February 2. The system is the first ever to use a flat, polyurethane coated steel belt to lift the elevator car, replacing the steel cables that have been the industry standard for more than a century. The unique design and traction of the coated steel belt has enabled Otis to reduce the size of the machinery required to power the elevator by about 70%. The smaller machine and a redesigned computer control mechanism both fit easily inside the elevator hoistway, eliminating the need for a costly separate machine room in the building. The Linz apartment buildings are five stories high, and were built in 1935 without elevators. The buildings are now undergoing extensive renovations, and the elevators will be installed in new steel-and-glass hoistways attached to the outside of the each building. The price of the contract includes the materials and construction of the new hoistways. While this is the first major order for Gen2(TM) elevator systems, Otis has already successfully installed pilot units in the Netherlands, Switzerland, and other locations in Austria. The full sales release for European markets will take place in May. Gen2(TM) elevator systems will be available in Asia later in the year, and in the balance of the world in 2001. Otis Elevator, with headquarters in Farmington, Connecticut, is the world's largest company manufacturing, installing and servicing elevators, escalators, moving walkways and shuttle systems. Including the recently-formed LG-Otis Elevator Co. in Korea, Otis has more than 60,000 employees and revenues exceeding $6 billion. Otis products are sold in more than 200 countries and territories worldwide. SOURCE : Otis Elevator Co. CONTACT: Matthew Broder, Director, International Public Relations of Otis Elevator, 860-676-5402, or [email protected]