Otis Elevator Company announced it will be separating from United Technologies, a multinational conglomerate corporation. Instead Otis Elevator will now function as a stand alone company.
The Elevator Company opened a facility in Florence in 2011, and according to the Florence Chamber of Commerce has provided more than 300 jobs for the community. Since opening in 2011 the facility has also produced new elevators that have not been produced anywhere else in the country.
News13 reached out to both Otis and United Technologies for a statement:
Our decision to separate United Technologies is a pivotal moment in our history and will best position each independent company to drive sustained growth, lead its industry in innovation and customer focus, and maximize value creation,” said United Technologies CEO Gregory Hayes.
