Otis Elevator in Joint Venture With Soviets:...

Otis Elevator in Joint Venture With Soviets: Otis Elevator Co., a United Technologies Corp. subsidiary, said it has formed a joint venture with the Shcherbinka Lift Plant to manufacture, install and maintain elevator equipment in the Soviet Union. The new enterprise, to be called Shcherbinka Otis Lift, will be 55% owned by Otis and 45% by the Soviet partner. The company will use Otis designs, manufacturing technology and installation and maintenance methods.