Elevator company Otis in new joint venture for South Indian market
14 Aug 2008
Chennai: Otis Elevator Company has formed a new joint venture with Supriya Elevators (India), under the banner Supriya Elevator Company (India) Ltd to better serve the markets in south India.
The new company will be headquartered in Chennai, and will serve markets in the states of Tamil Nadu, Pondicherry, Karnataka, Kerala and Andhra Pradesh.
Otis has a 50-year old history in India, and has been supplying escalators and lifts, or elevators, along with service and maintenance contracts to a number of end use markets in both the residential and the commercial space.
Otis is a part of United Technologies Corporation, a Fortune 500 company, and is the world's largest manufacturer and maintainer of people-moving products such as elevators, escalators and moving walkways.
Headquartered in Farmington, Connecticut, in the US, Otis employs 63,000 people worldwide, offering products and services across more than 200 countries. The company says it maintains an estimated 1.6 million elevators and escalators worldwide.
Supriya Elevators is a well-established independent elevator company in Southern India since the last 15 years, and offers a range of elevator products. The new joint venture has been set up as an independent entity that will retain Supriya's well-recognised brand identity in the south Indian states where it will better meet the needs of the markets it will operate in.
Sundar Parthasarathy, managing director, Otis India said, "The market for people moving systems will continue to see demand growth over the medium and long term and the joint venture will augment our efforts at expanding market presence and customer service in South India."
