OTIS' MARKS ENCOURAGED BY CHINA'S QUICK COVID-19 RECOVERY

       Otis President and CEO Judy Marks, speaking during a May 28 online conference with industry analysts, pointed to China’s quick economic recovery as a good sign for the rest of the world in the second half of the year, the Hartford Courant reported. “China itself is back,” Marks said. “If China is the proxy for the rest of the world recovering from COVID, there will be a very positive bounce back in the second half." She said all 15,000 Otis employees in China are back at work, branch offices and factories are producing, and shipping and jobsite reopenings were approaching mid-90% for new equipment construction. China accounts for nearly 60% of new equipment sales at the OEM, according to analyst Nicholas Heymann at William Blair & Co.