US multinational Otis will sell its business in Russia to a local buyer The world’s largest elevator and escalator maker, US-based Otis, will sell its business in Russia, the company announced on Wednesday. The firm said that “supply chain disruptions and mounting regulations” caused by the “ongoing crisis in Eastern Europe” mean that its business in Russia “is no longer sustainable”, and the company has reached an agreement “to sell 100% of its interest in the Otis Russia business”, reads the statement published on its website. The company’s assets in Russia include an elevator equipment factory in Saint-Petersbu
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