The Taiwan subsidiary of Otis Worldwide Corporation (NYSE: OTIS) has acquired Jardine Schindler Lifts Limited (Taiwan) from the Jardine Schindler Group.
This buyout will strengthen the company's position in the Taiwan market with the expanded customer reach and operational capacity of Jardine Schindler Lifts. Otis is optimistic about introducing its products and service offerings, including the recently launched Otis ONE platform and the connected Gen3 elevators, to the new customer base.
This strategic transaction, a milestone for Otis, will enable it to better serve the region and its customers.
Other Growth Initiatives of OTIS
Apart from inorganic growth strategies, Otis also focuses on organic ways of fostering its growth. The primary organic growth strategy is innovation. The company seems to be invested in seeking innovation opportunities and capitalizing on them for its upcoming prospects.
Otis invested $144 million in R&D in 2023. Furthermore, during the first six months of 2024, it invested ...
