Issue 1027 | 12/27/2023 | Currently reaching 35K Global contacts | | | | | ELEVATOR WORLD'S December Issue | On the Cover: G-Tech Elevator Provides System for New Queens Tower Features: Full House; The 2023 Ellies Awards Winners; 14th Symposium on Lift and Escalator Technologies Focus on Mergers and Acquisitions: A Comprehensive Guide; A Look at M&A Trends; M&A in North America; Making Winners; Strategic Elevations Columns: Building Safety Habits; Merry and Bright; Where Are All the Startups?; Big News for interlift; Rising Higher Together; ELEVATOR WORLD Turns 60; DPR — Nusantara I Tower; First Principles and Ropeless Lifts; Saudi Arabia's Emerging Expo; Limitless Opportunities; Fundamentals of Traffic Analysis | | | Draka EHC, a brand of Prysmian Group, is a global manufacturer and supplier dedicated to sustainability and developing innovative solutions for the vertical transportation industry. Our diverse portfolio of high-quality elevator products includes travelling cable, compensation cable, hoistway cable, wire rope, coated steel rope, rope brakes, wireway, harnessing, and lubricants. For escalators and moving walks we offer essential handrail solutions, field splicing services, skirt brushes, rollers, replacement parts and more. Elevator & Escalator Solutions Catalog | www.DrakaEHC.com | | | ELEVATOR WORLD TO FOCUS ON CANADA, SAFETY ELEVATOR WORLD's March 2024 issue will focus on Safety Components and Procedures (brakes, ropes, emergency shutoff and more) with a special regional section on Canada. The article submission deadline is January 15, and the advertising deadline is February 1. To participate or for more information, contact the EW Editorial Department at phone: 251-479-4514, ext. 30 or editorial@elevatorworld.com. To advertise, contact ext. 31 or advertising@elevatorworld.com. | | | ZIEHL-ABEGG APPOINTS MAYER NEW CTO The supervisory board of Künzelsau, Germany-based Ziehl-Abegg SE has appointed Wolfgang Mayer as the company's new chief technology officer (CTO). Joining the global electric motor specialist from Kuka Robotics, Mayer's new role becomes effective in February 2024. Read more here | | | OTIS MAKES WALL STREET JOURNAL TOP LIST FOR FIRST TIME Otis has been named to the Wall Street Journal's Management Top 250 for 2023. This is Otis' first year on the annual list, with notable recognition for financial strength and social responsibility. The annual list is based on a holistic measure of corporate effectiveness developed by Drucker Institute, a part of Claremont Graduate University. Read more here | | | Lift Business Advisors in the last 3 years has successfully represented the sellers of more than 25 elevator contractors and suppliers in the elevator industry to a broad range of acquiring companies. Since our inception in 1998, we have provided hands on support to help improve profitability and optimize value for an eventual exit. Contact Jeff Eaton for a confidential discussion and complimentary strategic review. www.liftbusiness.com, jeff.eaton@liftbusiness.com | | | KONE EXECUTIVE BOARD CHANGES ANNOUNCED Managing Director (MD) for KONE Middle East, Türkiye and Africa Nicolas Alchal has been appointed executive vice president (VP), Strategy & Transformation, as of January 1, 2025, succeeding Axel Berkling, who was appointed executive VP, Commercial & Operations, in October 2023. Read more here | | | ESI ANNOUNCES SIXTH ADD-ON ACQUISITION Elevator Service LLC (ESI) has acquired Allrise Elevator Co., a leading independent service provider in the greater St. Louis market. This investment is ESI's sixth add-on acquisition in the last two years. ESI now operates in nine Midwestern markets and one market in the Southeast. Following the acquisition, Allrise will continue to operate with the same branding. Allrise was founded in 2013 and has since become the fastest growing elevator service provider in St. Louis. Read more here | | | AXXIOM ELEVATOR EXPANDS SOUTHWEST PRESENCE WITH ACQUISITION After acquiring Arizona Elevator Services, Fort Lauderdale, Florida-based Axxiom Elevator has further expanded its Southwest presence by acquiring IronHawk Elevator, based in Tucson, Arizona, and serving southern Arizona and western New Mexico. Jupiter, Florida-based Maven Group, financial advisors to IronHawk, announced the deal on December 19. Read more here | | | Maven Group, LLC is the premier choice for owners of independent elevator companies who consider selling their business. We understand the daily challenges of independent companies and we know what buyers are looking for. To maximize your return, we provide hands-on help when you prepare for the complex mergers & acquisitions process. For confidential advice, please contact Dominik Sachsenheimer at dominik@mavenelevator.com / 561-225-3320 or Bill Beaury at bill@mavenelevator.com / 239-253-4500; www.mavenelevator.com | | | TKE UNVEILS LUXURY COMPACT HOME ELEVATOR FOR INDIAN MARKET On December 21, TK Elevator (TKE) announced the launch of its new home elevator enta villa, designed specifically for multi-floor homes and villas in India where demand for luxury housing and lifestyle products is growing. Harnessing German precision engineering, the elevator integrates the latest technological advances with an efficient, compact design and aesthetics for a blend of safety, comfort and style. TKE's latest offering comes as the Indian economy continues to outpace other key markets, creating a growing middle class with strong luxury-lifestyle aspirations. "With the launch of enta villa, TKE is setting a new benchmark in home elevator technology," TKE India Managing Director and CEO Manish Mehan said. "Our commitment to innovation, safety and sustainability is embodied in this remarkable product, designed to seamlessly integrate into modern living spaces." | | | LÖDIGE SYSTEMS MIDDLE EAST CELEBRATES CERTIFICATION "HAT-TRICK" Doha, Qatar-based Lödige Systems Middle East (LSME), a subsidiary of Germany-based global supplier of lift logistics solutions and more Lödige Industries, recently celebrated a "certification hat-trick" — receiving three different International Organization for Standardization (ISO) certifications. Read more here | | | Mongrain Vertical Transport current products include the complete range of hydraulic elevators as well as the Emarelle hydraulic machine-room-less elevator system. Each is custom tailored to meet demanding design and performance standards as specified by building owners, architects, and installers. For more information, please email us at info@mvtinc.com or visit us online at www.mvtinc.com. | | | OTIS MARINE SELECTED TO EQUIP TWO LUXURY CRUISE SHIPS The Otis Marine division has been selected by French shipbuilding company Chantiers de l'Atlantique to equip two luxury 250-passenger cruise ships. Eight Gen2® elevators that have been specifically designed for a marine environment will provide safe vertical mobility on the vessels. This announcement marks the first time Otis has partnered with the Saint-Nazaire, France-based shipyard, which is one of the largest in the world. Read more here | | | KONE INDIA TO MANUFACTURE ESCALATORS KONE Elevator India will start manufacturing escalators at its Sriperumbudur plant in India from the first half of 2024 as part of its expansion program and will be the only company to manufacture escalators in India, The Hindu reports. KONE India has been importing escalators from China and Finland and then assembling them, but the company will start manufacturing and assembling them locally for the domestic market to support the "Make in India" initiative. Read more here | | | Gain a little more Freedom with Canton Elevator's full package Traction line. Canton's offerings are based on a wide range of capacities, platform designs, travel, and speed with both geared and gearless machines. The Freedom series allows elevator contractors and their customers to work through standard and custom applications. For more information visit www.cantonelevator.com or feel free to reach out and talk to Cindy Samek 864-328-9278. If you would like to request a quote for an upcoming project, please send in all information to info@nidec-canton.com. | | | CALL FOR PRESENTATIONS OPEN FOR UPCOMING NAEC EDUCATIONAL PROGRAMS The National Association of Elevator Contractors (NAEC) has issued a Call for Presentations for its Spring Conference scheduled on April 14-17 and NexGen Retreat scheduled on April 18-19, both in Miramar Beach, Florida. Those interested in speaking at either upcoming event may submit a written programming idea online. Read more here | | | AGREEMENT SIGNED TO MARKET SAUDI ELEVATOR PRODUCTS IN IRAQ Saudi Arabia's Mayar Holding Co. announced on December 20 it signed a contract with an Iraqi firm to market and maintain its elevator products in the country, Zawya reports. In a disclosure statement on Tadawul, Mayar said its Gulf Elevators and Escalators Co. (GEEC) signed the deal with Iraq's MidPoint Co. Ltd. Read more here | | | KONE INDIA IS GREAT PLACE TO WORK CERTIFIED; FOURTH TIME IN A ROW KONE Elevators India continues its legacy by being Great Place to Work® Certified™ in India from October 2023 to October 2024 for the fourth consecutive time. This accomplishment reflects the company's commitment to excellence and employee satisfaction within the organization. Read more here | | | Keep Up With Code at the ADAMS Online Store. Your riders deserve the very best—and ADAMS offers the market's most extensive inventory of quality parts. You can find them all at the ADAMS Online Store. Over 37,000 parts are a few clicks away and 97% of them ship the same day you order. https://shop.adamselevator.com/ | | | MITSUBISHI ELEVATOR (THAILAND) HOSTS SEMINAR Mitsubishi Elevator (Thailand) recently held a seminar in Phuket titled "Vertical Transportation & Real Estate Trends in the Year of the Dragon" at the Phuket Kalima Resort and Spa, the Bangkok Post reports. The event, which targeted developers, owners, architects and professionals involved in the real estate industry in Thailand's Southern regions and Phuket, was held under the leadership of Kaori Takahashi, managing director (MD) of Mitsubishi Electric (Thailand). The seminar focused on the latest trends in vertical transportation (VT) and real estate for 2024 and aimed to import knowledge about the optimal safety of elevator and escalator systems. Relevant laws and regulations, selecting appropriate elevators for different building types and Phuket real estate anticipated 2024 trends were addressed. Silpchai Pangprasertgul, MD of POF ARCH & CONS Co., Ltd., representing the working group for the Phuket Center and a member of the Association of Siamese Architects under Royal Patronage, was a special guest, and Rakkiat Ditphin, an urban planner and chief officer of the Public Works and Town & Country Planning Office, joined as a speaker during the dinner talk. | | | CANADA THEATER APPROVED FOR FUNDRAISING FOR ELEVATOR ADDITION Petrolia has given Victoria Playhouse Petrolia the greenlight to start fundraising for a CAD$3.5 million renovation at Victoria Hall in Petrolia, Ontario, Canada, for the addition of washrooms and an elevator, The Independent reports. The renovation has been needed for some time as the theater gets complaints about the "single, small elevator," and people often won't buy seats in the balcony due to the number of stairs. Read more here | | | KENYA TOWN OPENS FIRST-EVER ESCALATOR Naivas Mall in Kakamega, Kenya, has introduced the town's first-ever escalator, marking a novel chapter in the local shopping scene that many residents experienced for the first time, The Saturday Standard reports. Hundreds of residents attended the supermarket within the mall as it unveiled the escalator, providing them with a new experience. Read more here | | | The 2023 EIAT (Elevator Industry Aptitude Test) contains 75 math, verbal, and mechanical questions. Since 2007, JobTestPrep has helped over 5,000 candidates prepare for their EIAT test and is the one-stop-shop for acing the EIAT: free test, sample questions, and full practice. Take a free EIAT sample test to maximize your chances of getting an apprenticeship and to learn more about JobTestPrep! | | | CANADA ART GALLERY IN NEED OF ELEVATOR REPAIRS The Winnipeg Art Gallery (WAG) in Manitoba, Canada, is looking for help after its historic freight elevator has fallen into disrepair, CTV News reports. Additionally, the gallery's two passenger elevators also need to be replaced. The freight elevator has been a mainstay at the gallery for more than 50 years and is used to transport art between the vault and the galleries, allowing for the gallery to receive large art of all sizes. It now needs to be replaced, as some of its parts are no longer made. According to the gallery, the cost of updating all three elevators is just shy of CAD1 million (US$749,835), and it is asking for donations. | | | ELEVATOR INCIDENTS CONTINUE IN TURKISH STATE-RUN DORMS Elevator accidents continue to persist in Turkish state-run dormitories. There were at least two recent elevator accidents as issues continue, despite a fatal incident in October (ELENET 1019), Duvar English reports. In the western İzmir province's Buca district, an elevator fell three floors with students inside in a Student Loans and Dormitories Institution (KYK). Read more here | | | GLOBAL IOT ELEVATOR MARKET EXPECTED TO CONTINUE TO GROW Fact.MR forecasts the global Internet of Things (IoT) elevator market is set to reach US$93.9 billion by the end of 2022-2032 with a compound annual growth rate (CAGR) of 13.4%. It estimated the IoT elevator market at US$26.7 billion in 2022, concluding a dollar opportunity worth US$67.2 billion in 2016-2021, FutureIoT reports. With a growth rate valued at US$18.4 billion, in 2022 the hardware demand has boomed. Read more here | | | Empowering Elevator Business Owners & Entrepreneurs by Sean Madden is specifically geared toward independent elevator service business owners and entrepreneurs who want to make a difference in their businesses. If you're starting, maintaining or growing your own independent elevator service business, this book is for you. It contains anecdotes from my experiences along with advice, tools and practical templates that will show you how to grow your business proactively and strategically. Order your copy today! | | | NEW YORK BUILD NO-COST REGISTRATION OPEN Construction and design show New York Build will be held on February 13-14, 2024, at the Jacob K. Javits Convention Center in New York, NY. Registration is open, and no-cost tickets are limited. The award-winning show features more than 500 speakers across 14 conference tracks, including Architecture, Sustainability, Real Estate and the Future of Construction. American Institute of Architects Continuing Education Services workshops will be offered, and more than 400 exhibitors will showcase the latest services and products. New York Build is home to the U.S.'s largest gathering of Women in Construction and Diversity in Construction. The "Festival of Construction" will provide a variety of lively networking opportunities with DJs, musical performances, art displays, free professional headshots and prize giveaways. | | | CTBUH 2024 EUROPE CONFERENCE ANNOUNCED The Council on Tall Building and Urban Habitat (CTBUH) 2024 Europe Conference will be held on April 18-19, 2024, in Istanbul, Türkiye. The gathering's theme, "Future-Fit Cities: Safer, Adaptive Density in a Changing Era," will explore the obstacles and opportunities facing European cities today. Urban planners, developers, architects and thought leaders will share their insights during the event. Discussion and debate topics include protecting tall buildings from physical and digital threats, dense communities and their success during and after the pandemic and growing dense capitals in Eastern Europe. The primary venue for the conference will be the Ziraat Towers, Istanbul International Finance Center. More details are available online. | | | EDITORIAL AND SUBSCRIPTIONS: Editorial submissions, reprint permission requests and subscription/removal requests should be sent to editorial@elevatorworld.com. ELENET Editorial staff: Angela C. Baldwin, Kaija Wilkinson, Lindsay Fletcher and Kathleen Farrell. ADVERTISEMENTS: To advertise and reach ELENET's readership of 35,000+, contact the Advertising staff at phone: 251-479-4514 or e-mail: advertising@elevatorworld.com. Download the ELEVATOR WORLD magazine Editorial Calendar to see EW's upcoming feature stories, focus topics, special topics, special sections and Editorial/Advertising submission deadlines here. ELENET is a registered trademark, and all rights are reserved. Copyright 2023 © Elevator World, Inc., 354 Morgan Avenue, Mobile, AL 36606, phone: 251-479-4514, fax: 251-479-7043, Internet: www.elevatorworld.com. | | | ELEVATOR WORLD Türkiye's November/December Issue | | ELEVATOR WORLD Middle East's 3rd Qtr Issue | | ELEVATOR WORLD UK's 4th Qtr Issue | | | ELEVATOR WORLD Europe's November/December Issue | | ELEVATOR WORLD India's 4th Qtr Issue | | ELEVATOR WORLD SOURCE 2023 Issue | | | |
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