Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market

Exited Exit Completed

Otis is an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment.

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market

Exited Exit Completed
Revenue in RF, mln.USD
222
Capital, mln.USD
109
Glob.Revenue, mln.USD
14298

It has subsidiaries in Russia. Operations in Russia contributed approximately 2% of the 2021 revenue.

The Company Statement
July 27, 2022

Exploring options for exit; while no new investments/new contracts but fulfill existing agreements. Otis will sell 100% of the business to Ice Development. 27.07.2022: Regulatory approvals were received, and the sale of the Otis Russia business to Ice Development closed.

March 31, 2022https://www.otis.com/en/us/news?cn=Our-Response-to-the-Escalating-Crisis-in-Europe
March 11, 2022Our Response to the Escalating Crisis in Europe
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