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Mon September 28 2020

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Higher earnings for Otis and Carrier

21 Jul 11 The parent company of Otis Elevators and heating and air-conditioning manufacturer Carrier has reported increased earnings for both businesses.

United Technologies Corporation (UTC) said that new equipment orders at Otis were up 23% and that new orders at Carrier for commercial heating, ventilation and air conditioning equipment  grew 13%  in the second quarter of the year.

"For the first time since the second quarter of 2008, all six of our business segments reported organic sales growth in the quarter,” said UTC chairman and chief executive officer Louis Chenevert. “More encouragingly, order rates remain strong and in line with expectations."

Across the group, sales for the quarter increased 9% to US$15.1bn (£9.36bn)

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