Elevator Contractor Fined $300,000 For Safety Violation During Elevator Installation [Yahoo! Finance]
Otis Worldwide Corporation (OTIS)
Company Research
Source: Yahoo! Finance
manner, an offence under the Technical Standards and Safety Act Ontario Regulation 209/01: Elevating Devices . The safety violation caused injuries to two apprentice elevator mechanics employed by the company. The Ontario Court of Justice ordered OTIS Canada Inc. to pay a fine of , plus a 25 per cent victim surcharge. In April 2023 , OTIS Canada Inc. was the contractor responsible for installing new elevators in a nine-storey condominium under construction in Toronto , when two apprentice elevator mechanics employed by OTIS Canada Inc. were performing work on an almost completed elevator. The apprentice mechanics failed to properly counterbalance the elevator with appropriate weights. They were riding on the elevator when it plunged from the second floor to an underground car park level, causing significant injuries. One apprentice sustained bruises while the other suffered fractures to both feet. The fallen elevator was heavily damaged. "This is one of the largest fines imposed o
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OTIS
News
- Otis Worldwide Co. (NYSE: OTIS) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $110.00 price target on the stock.MarketBeat
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OTIS
Earnings
- 7/24/24 - Beat
OTIS
Sec Filings
- 9/20/24 - Form 8-K
- 9/16/24 - Form 144
- 9/4/24 - Form 144
- OTIS's page on the SEC website