Otis Elevator Establishes Itself in TEDA

Otis Elevator Establishes Itself in TEDA

June 09, 2006

    TIANJIN, China, June 9 /Xinhua-PRNewswire/ -- The
Ground Breaking Ceremony for the arrival of the largest
global elevator manufacturer and service provider Otis
Elevator in TEDA will be held on June 9, 2006.  The base,
with a total investment of USD7.5million will complete
construction in 2007, and will serve as the world most
advanced and efficient elevator manufacturing base for
Otis.

    Charles Vo, president of Otis North Asia expressed that
the TEDA Base for Otis Elevator will become the world's
leading whole elevator and parts center. Its products will
serve China and the overseas market.  Upon completion, Otis
products and technologies will be designed and manufactured
in China and exported worldwide.  This move will change the
traditional mode that China imports advanced technologies
from western world.

    Tianjin Binhai New Area where TEDA (Tianjin
Economic-Technological Development Area) is located has
been included in national development strategy, serving as
an engine that drives the development of the economy in
north China.  Thus far, more and more world level
manufacturers that focus on independent R&D have landed
here, which will not only further advance TEDA's position as
a modern manufacturing base, but also drive the economic
growth of surrounding regions.

    About Tianjin Economic-Technological Development Area
(TEDA)

    Tianjin Economic-Technological Development Area (TEDA)
was established in 1984 with the approval of the State
Council of the People's Republic of China.  It is one of
the first state-class economic-technological development
areas in the country. 

    TEDA is located in the center of a larger area
bordering Bohai Sea and the east of the Asia-Europe Land
Bridge, thus serving as the gate to the two super cities of
Beijing and Tianjin, and the throat connecting the northeast
of China.  By the end of 2005, 4,067 foreign companies have
landed in TEDA.  Of the Fortune 500 companies, 57
multinational companies, from 10 countries and regions,
including such well-established multinational giants as
Motorola, Samsung and Toyota, invested in 123 enterprises
in TEDA.  In 2000, "Fortune" listed TEDA as one
of the most highly recommended economic areas in China.  In
2002 UNIDO listed TEDA as one of the most dynamic areas of
China together with Shenzhen, Suzhou, Wenzhou, Shanghai
Pudong and Xi'an High-tech Park.

    For more information, please visit:
http://www.investteda.org .

    For more information, please contact:

     Ding Lei
     Tel:   [phone] 

     Xu Hui
     Tel:   [phone]

SOURCE  Tianjin Economic-Technological Development Area