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Technology Stocks : United Technologies (UTX)
UTX 132.10-0.4%Oct 8 2:31 PM EST

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From: JakeStraw4/11/2006 9:09:48 AM
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Otis Wins China's Top Science and Technology Award
biz.yahoo.com
Tuesday April 11, 7:00 am ET

FARMINGTON, Conn., April 11 /PRNewswire-FirstCall/ -- The Chinese government has recognized Otis Elevator Company's Gen2® flat-belt machine-roomless elevator as one of the "Top 10 Architectural and Technology Achievements" in China last year. Otis, a unit of United Technologies Corp. (NYSE: UTX), is the first elevator company to receive this award, considered to be the most prestigious in China's construction industry.

According to one government official and member of the award committee, the Gen2 elevator's space-saving, energy-efficient and environment-friendly design, as featured in the Nanjing Olympic Sports and Guangzhou International Convention and Exhibition centers, "perfectly incorporates the country's strategy of sustainable development."

"We are honored to be the first elevator company to earn this distinction from the Chinese government," said Ari Bousbib, Otis president. "This award reflects Otis' commitment to 'green' buildings and our strong support for China's sustainable development policy."

This is the second national award for the Gen2 elevator. In 2005, the China Environmental Protection Foundation gave Otis the Green Product Award for the Gen2 elevator's environment-friendly technology.

Otis' patented Gen2 flat-belt drive system and gearless machine do not require any form of lubrication, eliminating the need for storage, cleanup and disposal of hazardous waste. The Gen2 system is also 50 to 75 percent more energy efficient than conventional elevators because its low-inertia, permanent magnet gearless machine with variable frequency control eliminates energy loss that occurs in more traditional geared systems. In addition, the machine-roomless design saves valuable building space.
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