United Technologies' (UTX - commentary - Cramer's Take) Otis Elevator will supply and install 21 elevators for a 29-story office tower under construction in London's historic Square Mile district.
The 51 Lime Street project, a collaboration between The British Land Company Plc and Stanhope Plc, will be designed by Foster and Partners, led by Britain's internationally recognized architect Lord Norman Foster of Thames Bank.
"We are pleased to again be part of another prestigious Foster landmark," said Otis President Ari Bousbib.
The 21 elevators include high-rise gearless units with a speed of 6 meters per second and Gen2(TM) machine-roomless units, Otis' patented flat-belt, machine-roomless product.
51 Lime Street is located in the historic Square Mile district, protected by London's medieval walls, that is home to international institutions such as Lloyd's of London, the Bank of England and the London Stock Exchange. When completed, it will have 475,000 square feet (44,000 square meters) of office space, retail and dining establishments, and be the fourth tallest structure in the Square Mile.
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