The Otis Elevator Company was founded in Yonkers, New York, in 1853 by Elisha Otis. Otis is 69,000 people strong, including 41,000 field professionals, all committed to meeting the diverse needs of our customers. The 1960s was also the era of the conglomerate craze, the idea that a company could acquire totally unrelated businesses to alleviate fluctuations in your core business and achieve synergies (2+2=5) across these diverse businesses. And our remote elevator monitoring technology represented one of the first uses of big data and predictive analytics to improve performance. By 1975, Otiss share of the American new elevator and escalator market had fallen from 45% to 31%. New York, NY- Photo shows a double-deck elevator car between floors in the Cities Service Building at 60 Wall Street, New York City. } else if (window.attachEvent) { At the age of 40, while he was cleaning up the factory, he wondered how he could get all the old debris up to the upper levels of the factory. Although his creation did not operate as a vertical elevator, Da Vincis design represented an early instance of a mechanically powered lift. Otis continued to operate a branch in Cleveland, Ohio, at 9800 Rockside Road. After Elisha Otiss revolutionary invention and the establishment of the Otis Elevator Company in 1853, the company experienced significant growth and played a pivotal role in shaping the elevator industry. The double-deck elevator increased the amount of rentable space in a building. Otis contributes approximately 23 percent of UTC's annual sales. if (window.addEventListener) { } Uniteds Pratt & Whitney division made over 90% of the engines for jet airliners, but General Electric was gaining market share on them and would eventually become #1 in jet engines. */ function thirdPartyScripts(){ Though they didnt catch on for passenger use, they were crucial in developing hydraulic elevator systems and hoisting machinery. The Elevonic 401, introduced in 1981, was the first control system with synthesized speech, information display, and security systems. Following his triumphant demonstration at the Worlds Fair, Elisha Otis established the Otis Elevator Company. 1 Carrier Place We're proud to be recognized for our outstanding leadership, innovative products, global projects and excellence in social responsibility. Otis Worldwide Corporation (NYSE:OTIS) reported first quarter 2023 net sales of $3.3 billion with 3.6% organic growth. Climbing elevators are used in guyed masts or towers, in order to make easy access to parts of these constructions, such as flight safety lamps for maintenance. OH Available at SSRN: https://ssrn.com/abstract=2141861 or http://dx.doi.org/10.2139/ssrn.2141861. The remaining aerospace business merged with Raytheon and is now called Raytheon Technologies. Otis figured it out and won the contract for the elevators in the sloping legs. In 1984, when Otis accounted for 20,000 of the 100,000 elevators sold in the world each year, the company signed a joint venture to build elevators in China; a decade later, it had three Chinese joint venture plants. function thirdPartyScripts(){ After having made several sales, and after the bedstead factory declined, Otis took the opportunity to make an elevator company out of it, initially called Union Elevator Works and later Otis Brothers & Co. No orders came to him over the next several months, but soon after, the 1853 New York World's Fair offered a great chance at publicity. He had heard of hoisting platforms, but these often broke, and he was unwilling to take the risks. Founded In Yonkers, Otis Elevators Took American Industry To New Heights And thus, this very old company, started by one tinkerer with an idea, has lived on through times good and bad, through changes in its environment, but still leads its industry. These advancements in elevator technology have led to the construction of some of the worlds most iconic tall buildings, from the Empire State Building in New York City to the Burj Khalifa in Dubai. Installed in a five-story department store in New York City in 1857, Otis' first commercial passenger elevator soon changed the world's skyline, making skyscrapers a practical reality and turning. Otis also devised a number of other mechanical contrivances. In 1956 it did some $20 million worth of conversion work from manual to automatic. It seems the stunt worked - in 1857 the first Otis passenger elevator was installed at 488 Broadway. Otis contracted diphtheria and died on April 8, 1861, aged 49. Schindler Holding Ltd. is a Swiss multinational company which manufactures escalators, moving walkways, and elevators worldwide, founded in Switzerland in 1874. The 1860s witnessed the emergence of the steam-driven elevator, which harnessed the power of steam engines to drive the lifting mechanism. He was put out of business when the stream he was using for a power supply was diverted by the city of Albany for its fresh water supply. done = true; On January 15, 1861, he patented an independently controlled steam engine for elevator use (installed in 1862). The electric elevator was first introduced by the German inventor Werner von Siemens in 1880. This innovative mechanism was the key to transforming elevators from a risky mode of transportation to a reliable and secure means of vertical travel. Otis had 24 percent of the world market for elevators and escalators in 1990, twice as large a share as its nearest competitor. 24-Hour Service for emergencies and service calls, Otis is an iconic brand with a rich history. With the end of the cold war, Otis replaced aircraft engine manufacturer Pratt & Whitney as UTC's largest income producer. 306 Previous: 305 Next: 307 Company Information As of 6/5/23 Country U.S. Headquarters Farmington, Conn. Industry Industrial Machinery CEO Judith F. Marks Website www.otis.com Company Type Public. Following the death of Elisha Otis in 1861, the company passed to his sons, Charles R. and Norton P. Otis. Judy Marks Chair, Chief Executive Officer and President, Otis Worldwide Corporation In her 38 years in industry, Judy Marks has witnessed technological advances while applying emerging and mature technologies in a way that benefits society. Language links are at the top of the page across from the title. The crane division was more successful than the fork lift manufactory, and the Otis Baker division was disbanded in 1975. Privacy Policy. var se = document.createElement('script'); se.type = 'text/javascript'; se.async = true; We are reliable, smart and focused on the future. Today, elevator music is a staple of the ride. Passenger elevators continued to evolve throughout the 20th century, with innovations such as automatic doors, push-button controls, and even glass-walled cabs that offered breathtaking views. The companys two million installations carry two billion passengers every day, perhaps making Otis the worlds biggest transportation company. Water-powered elevators were particularly popular in factories and mills, where a constant water supply was readily available. Net sales reached a record $1.1 billion in 1974--more than half of which was generated overseas--and net income a record $43.5 million. Its first outside acquisition since 1898 was the purchase of Transmitter Equipment Manufacturing Co. (Temco) in 1953. (window.location.toString().includes("otis-signature-service")))) However, there are a few other equally important components. He and his sons, who were also tinkerers, designed their own "safety elevator" and tested it successfully. Elisha Graves Otis was an American industrialist, founder of the Otis Elevator Company, and inventor of a safety device that prevents elevators from falling if the hoisting cable fails. The tower has been certified LEED Gold by the U.S. Green Building Council, with Otis' energy-efficient technology contributing to the building's sustainable design and operation. Otis built new factories and acquired dozens of smaller elevator companies and local installers. The following year Otis installed the first double-deck elevator in a Wall Street office tower; it featured eight double-decked cars that stopped at two floors at the same time. You came here to get. While the original invention of the safety break elevator precipitated the design of 20th century skyscrapers, today's modern buildings are demanding the elevator's transformation. This exceptionally slender, 383-foot, 29-story, $20 million structure was just 54 feet across but accommodated 11 elevators and an escalator. New artificial intelligence software patented by Otis in 1993 used 'fuzzy logic' to estimate how many people were waiting for elevators at a given moment in office buildings or hospitals where several elevators were operational and traffic patterns changed throughout the day. In 2020, under CEO Judy Marks, Otis Worldwide generated profits of $900 million, 83% from services, on revenues of almost $13 billion. How the First Safe Passenger Elevator Was Invented | Time The challenge was the rise of the south and west, with new cities more horizontal than vertical. Approximately seven percent of the region's workforce was cut, and other cost-saving measures were taken. 44106-7107. In 1851 he was in Bergen, New Jersey, again as master mechanic in a bedstead factory. In March 2020, Uniteds shareholders each received one share of a new company, Carrier Global, and one half-share of another new company, Otis Worldwide, for each share they owned in United. A Modernization department soon followed, going back to old customers and modernizing their machines. Since the split-up, as of July 2021, Raytheon Technologies stock has risen about 40%, Otis has almost doubled, and Carrier has almost tripled. Elisha Otiss invention was undoubtedly groundbreaking, but the world of elevators was on the cusp of yet another significant transformation. Who Invented The Elevator? Elisha Otis Elevator and Its Uplifting History The Cleveland agent at the time was W.H. Baldwin ran the company until 1930. Although net sales passed $90 million in 1948 and approached $120 million by 1954, net income fell from $12.1 million to $9.6 million. E*Direct allowed new customers to shop for elevators and escalators on-line. Cleveland, This dramatic display of courage and engineering prowess captivated the public. Cleveland, By the early 20th century, Otis passenger elevators were being installed in many of the worlds most famous skyscrapers and tall buildings, such as the Empire State Building and the Chrysler Building in New York City. These elevators operate like a pneumatic tube system, with the cab being pushed up and down inside an airtight shaft by changes in air pressure. In 1915 the company introduced a self-leveling device that allowed the elevator platform to stop exactly at floor level. In 1857 he patented a steam plow, and in 1858 he patented a bake oven. The war generated not only orders for elevators, but also for rangefinders and tank and aircraft engine components. In front of each clue we have added its number . For forty-five years, Otis served as an important revenue and profit contributor to United Technologies. Otis then started his own business. Elisha Otis began his company, which had several names before becoming the Otis Elevator Company, selling hoists primarily to factories for lifting freight. When Elisha died in 1861, his sons Charles and Norton formed a partnership and continued the business. It cemented Elisha Otiss reputation as an innovator in the elevator industry. */ Elisha Otiss ingenious brake system employed a set of spring-loaded arms that would activate in the event of an elevator cable snapping, halting the cabs descent and bringing it to a safe stop. Other problems identified with making elevators were the cyclical nature of the construction industry and growing suburbanization, which in this period was characterized by ranch-style homes and single-story shopping centers. Like its long-time competitor, Westinghouse Electric, Otis focused on big, tall, high status jobs. In 1902, Otis had introduced its gearless traction (electric) elevators. These allowed the elevators to reach even greater height and were installed in a new wave of taller buildings. Otis continued to grow as a UTC subsidiary. Unlike the earlier push-button models, these elevators were large, fast, and could change speeds and adjust their schedules to suit traffic demands, bypassing floors when fully loaded. One-car trains moved at 13 miles an hour on a half-inch cushion of air. The earliest passenger elevator cages were sumptuous affairs, built into hotels and fine stores. Soon New York had over 5,000 apartment elevators in use, with Otis leading the field. The company also was actively engaged in designing and manufacturing automated horizontal moving systems. Otis survived the Depression and was ready for the demands of wartime America. Norton traveled the country promoting their products while Charles ran the factory, always obsessed with product quality and treating his workers well, paying them more than competing factories. His invention impressed spectators at the convention, and the first passenger elevator was installed in New York City in 1856. A climbing elevator is a self-ascending elevator with its own propulsion. Its president, Karl Krapek, told a correspondent for the London-based magazine Business, 'We are one of the few American industries that can compete long-term and successfully against the Japanese. [2] The rope was severed by an axeman, and the platform fell only a few inches before coming to a halt. By 1912, when net income came to $883,317, the company owned seven factories in the United States and by 1924 had subsidiaries in Canada, Germany, Italy, and Belgium. In 1904, Otis built 175 elevators for the London Underground, at a total cost of $2 million, the largest job the company had ever undertaken. Otis moved around the nation to different jobs while he worked on inventions in bread-baking, woodturning, and railroad brakes. Saratoga, New Yorks Congress Hotel had such an elevator installed by 1870. During World War II Otis filled military orders. /* SnapEngage.allowChatSound(true); Example JS API: Enable sounds for Visitors. The number of new skyscrapers built in the older cities declined. In 2015, Otis Elevator remained a part of UTC, and was known as the world leader in the elevators, escalators, and moving walkways. Otis Worldwide | 2023 Fortune 500 | Fortune Orders were few until May 1854 when, at the Crystal Palace in New York City, he demonstrated his elevator by riding the platform high in the air and ordering the rope cut. Otis, determined to maintain its position as industry leader, was not afraid to embrace change. The WWII-era U.S. P.T (Liberty) Boat Elisha Graves Otis was named for him. In all, Otis shed 1,100 jobs or 1.6 percent of its total work force. In 1878 Otis introduced a faster, more economical hydraulic elevator. Articles from Britannica Encyclopedias for elementary and high school students. Elevator History - Facts and Information Newspapers were full of stories of the dangers of elevators. Otis supplied 38 elevators and escalators for the project, including 14 SkyRise high-speed elevators. Sign up for our free weekly newsletter with more stories like this. The multi-deck 'car' would be hoisted 22,000 miles above Earth to a point in space known as 'genosynchronous orbit' via a thin diamond fiber. In 1909, the company boasted that its elevators were in use in the Forbidden City in Beijing and the Mikado Palace in Japan. Because the belts were far more pliable than steel cables, the traction sheave above the elevator was only one-fifth as large, and the size of the motor could also be reduced so that the entire drive mechanism could be installed inside the elevator shaft. Otis also announced two further Internet initiatives. The entire elevator machinery was made in Yonkers, then broken into individual parts and shipped to the customer, where a local installer would actually build the final device in the customers shaft. Legal Notice | Privacy Policy, Mather House, Room 308 UTC lost money in 1991 and 1992, mainly because of Pratt & Whitney's problems. var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(se, s); Today, the Otis Elevator Company continues to be at the forefront of innovation and sustainability in the vertical transportation industry, consistently pushing the boundaries of technology and design to improve the safety, efficiency, and accessibility of elevators, escalators, and other forms of transportation within buildings. var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(se, s); It is the result of the 1999 merger of Thyssen AG and Krupp and has its operational headquarters in Duisburg and Essen. Defense contracts continued to be important during the Korean War era, accounting for 22 percent of Otis's business in 1953. The company, which is celebrating its 160th anniversary today, has an interesting history: it was founded in 1853, the year Elisha Otis invented the elevator safety brake. UTC claimed that by giving workers more responsibility it reduced mistakes and eliminated downtime. Please refer to the appropriate style manual or other sources if you have any questions. Maintaining plants in 17 countries, and dependent on overseas operations for 37 percent of its net income, Otis's share of the elevator market in low-rise buildings had increased from 19 percent to 30 percent in five years. The Otis elevators were smoother, faster, and quieter than those installed in other parts of the tower by French elevator manufacturers. After more than a century in business, Connecticut-based Otis has more than 1.2 million elevators and escalators in operation, controlling about 22 percent of the world's elevator market. Born to a Vermont farmer in 1811,. else The post-war expansion of the US economy served Otis well, with 1951 revenues reaching $120 million. In 1968, a year after Otis installed 255 elevators and 71 escalators in New York City's newly completed World Trade Center, the company held nearly half the U.S. elevator market. Neil Green Executive Vice President & Chief Digital Officer Bryant Henson Executive Vice President, Global Strategy & Business Development Nora LaFreniere Executive Vice President & General Counsel Rina Leonard Vice President & Global Chief Information Officer Sally Loh President, Otis China Abbe Luersman To jump-start its flagging business, Otis began to diversify. Armed with two unsolicited $300 elevator orders, Otis opened his own factory in Yonkers on September 20, 1853. 85% of its 69,000 employees are located outside the United States. if (!done&&(!this.readyState||this.readyState==='loaded'||this.readyState==='complete')) { } window.addEventListener("load", thirdPartyScripts, false); A Brief, Interesting History of the Otis Elevator Company
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