Elevator company to triple capacity

Elevator firm Otis plans to invest an additional $100 million to triple its Tianjin plant's capacity by 2012, sources from the company told China Daily.

The plant, located in the Tianjin Economic Development Area (TEDA), now has an annual production capacity of 50,000 machines and 20,000 elevators.

Otis accounts for 27 percent of the global elevator and escalator market, and is focusing its business on China, where it devotes most of its production capacity to domestic consumption, Otis Elevator Investment (China) Co Ltd President Lindsay Harvey said.