One of the largest manufacturers of elevators and escalators Otis stopped accepting orders for Russia. The company explained the decision with the latest events in Ukraine and ongoing disruptions in the supply chain.
Photo: Sergey Fadeichev / TASS
The American company for the production of elevators and escalators Otis temporarily stopped accepting new orders in Russia and suspended investments in the development of the enterprise in the country, reported on her website.
“In light of recent events and ongoing supply chain disruptions, we have reassessed our performance in Russia. As a result, we are not accepting orders for new elevators and escalators and will not be making any new investments in the country for the time being.
At the same time, the company will continue to service equipment already operating in Russia. “We will continue to fulfill existing agreements and provide the necessary equipment maintenance services, as far as possible, without violating sanctions,” they said.
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Otis is one of the oldest and largest manufacturers of lifting equipment. According to her, the share of the Russian market in the company’s revenue last year amounted to about 2%.