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| Otis acquires Marshall Elevator Otis Elevator Company, a unit of United Technologies Corp., announced that it has acquired Pittsburgh-based Marshall Elevator company, the largest privately owned and operated full-service elevator company in Pennsylvania. Over the past two years, Otis has grown its service portfolio to over 1.7 million units worldwide, in part through more than 60 acquisitions. With a business history in the U.S. dating back to 1818, Marshall Elevator is one of the nation's oldest continuously owned and operated elevator companies. In fact, an original Marshall & Son sales ledger from 1847 documents the sale of early hoisting machines to various regional businesses. This year alone, Otis has successfully completed 12 acquisitions including "RSU Number 3, " a city-owned elevator service company in Saint Petersburg, Russia, and Servis Vyathu, based in the Czech Republic. Since 2009, the majority of Otis' acquisitions have been Europe-based, with 20 percent based in the U.S. and ten percent based in Asia. Last year, Otis' corporate parent, United Technologies, spent $2.8 billion on acquisitions. write your comments about the article :: © 2011 Construction News :: home page |