Zardoya Otis SA is a Spain-based company primarily engaged in the manufacture and installation and maintenance of elevators and escalators. The Company's products portfolio also comprises moving walkways, stairway chair lifts and other vertical and horizontal transportation systems. The Company�s facilities include production plants located in Madrid and San Sebastian and an industrial modernization center in Munguia, province of Biscay. As of November 30, 2011, the Company owned such subsidiaries as Ascensores Eguren SA, Portis SL, Otis Elevadores Lda, Savirel Lda, Admotion SL, Otis Maroc SA, Mototraccion Electrica Latierro SA, Ascensores Aspe SA and Fercas Serveis Integral SA, among others. In addition, United Technologies Holdings SA was the Company�s majority shareholder with 50.01% of its interest.