Issue 1032 | 1/31/2024 | Currently reaching 35K Global contacts

ELEVATOR WORLD's January Issue

On the Cover: ELEVATOR WORLD's 26th Annual Project of the Year

Project of the Year: Banque Nationale; Humboldt Bank Building and more...

Focus on Digitalization: Connected Lifts. Digital Evolution and more...

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EW TO FOCUS ON DOORS AND DOOR OPERATORS
ELEVATOR WORLD's April 2024 issue will focus on Doors and Door Operators with bonus distribution at the National Association of Elevator Contractors Spring Conference in Miramar Beach, Florida, in April. The article submission deadline is February 15, and the advertising deadline is March 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.

NAEC NAMES WOMEN IN MOTION LEADERSHIP
The National Association of Elevator Contractors (NAEC) recently announced that its Women in Motion group will be led by Chair Kelly Oberhardt of KONE Spares and Vice Chair Veronica Querales of Kohtler Elevator Industries. Read more here

CHAMPION ELEVATOR PROMOTES HOLTZMAN TO VP OF SAFETY & RISK MANAGEMENT
NYC-headquartered Champion Elevator has promoted Gary Holtzman from safety director to vice president (VP) of Safety & Risk Management. During his tenure as safety director at Katerra construction company from 2018-2021, Holtzman was instrumental in developing, implementing and evaluating comprehensive organizational programs blending historical industry knowledge with new technologies in Jersey City, New Jersey. Read more here

BENOIT JOINS TEI GROUP AS SOUTHEAST REGIONAL VP OF SALES
TEI Group, headquartered in NYC, announced on January 29 that Danny Benoit has joined the team as Southeast regional vice president (VP) of sales. Benoit comes to TEI with 11 years of sales experience at TK Elevator (TKE), where he held branch manager roles in Jacksonville and Orlando, Florida. Read more here

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 Advertisement

TORIN DRIVE NA AND SMARTRISE JOIN FORCES TO OFFER SYNCHRONIZED SOLUTION
Reflecting the longstanding relationship between the teams at Torin Drive North America (NA), a brand of Hyperion, and Smartrise Engineering, the companies have joined forces to offer a "synchronized solution" — allowing customers to purchase both a Torin traction machine and a Smartrise controller as one package. Read more here

NAEC NEXGEN ANNOUNCES CHAIR AND VICE CHAIR
John Mezzo, president of NYC-based Dynasty Elevator, and Morgan Jones, general manager of Hyperion Solutions based in Memphis, Tennessee, have been named chair and vice chair, respectively, of the National Association of Elevator Contractors (NAEC) NexGen — a group whose mission is to bridge the gap between the next and current generation of vertical-transportation (VT) industry leaders. Prior to launching Dynasty, Mezzo had a 15-year VT industry career that included branch and project manager positions at Schindler in the NYC area and at Otis in both Nevada and New York. Starting in 2016, Jones held various positions at Torin Drive International before the company was sold to a private equity firm in 2021. Torin Drive International then became part of Hyperion, and Jones took on the GM role in 2022. "There will be a wave of current leaders rolling out in the coming years, leaving the next generation to stand in the gap," Jones observed, adding she is excited to help bring education and collaboration to these future leaders. Mezzo said NexGen will be focusing on motivating and developing new industry leaders, and that the NexGen group is "vital to the success of our industry."

CEDES CTO ROLE TRANSITIONS FROM FREEDMAN TO FRÖMMING
Switzerland-headquartered sensor specialist CEDES AG welcomes Sascha Frömming as chief technology officer (CTO), as Steven Freedman steps down as CTO to take on the new roles of chief revenue officer and head of business — Americas. Frömming's previous roles include managerial positions in the fields of innovation, sustainability and software development. 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
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MESA ELECTS NEW LEADERS AT HOLIDAY PARTY
Forty-five members of the Massachusetts Elevator Safety Association (MESA) gathered at the Hilton Boston Dedham in Dedham, Massachusetts, on December 14, 2023, for the annual holiday party/meeting. Due to term limits, Jim Joyce of Vantage Elevator Solutions stepped down as president, and Abel Elevator Consulting President Corinne Nawrocki, previously vice president (VP) of MESA, was elected president. Read more here

KONE EXPECTS STABLE OR SLIGHTLY HIGHER SALES THIS YEAR
KONE expects 2024 sales to remain stable or grow slightly in 2024 as weak consumer sentiment continues to hinder sales in China — representing about a third of the company's sales — and strong demand in India and Southeast Asia persists, Reuters is among outlets to report. Read more here

MAVEN GROUP EXPANDS M&A SERVICES INTO ROOFING INDUSTRY
With more than 40 successful elevator industry mergers and acquisitions (M&A) completed, Jupiter, Florida-headquartered Maven Group, LLC announced its expansion into the roofing industry on January 25. Maven's original founder Bill Beaury observed the company spent years refining the process of helping sellers of independent companies optimize results. 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 Advertisement

TK ELEVATOR INDIA HEAD HOPEFUL ABOUT UPCOMING 2024-25 INDIA BUDGET
TK Elevator India Managing Director and CEO Manish Mehan is hopeful the upcoming 2024-25 national budget for India will "incorporate transformative measures to invigorate the Indian real estate sector," which would, in turn, propel growth of the elevator industry. Mehan's statement comes ahead of Union Finance Minister Nirmala Sitharaman's interim budget announcement on February 1. Read more here

STUDY: NEEDS SHOULD DETERMINE VT DISTRIBUTION AT SOUTH KOREA SUBWAY STATIONS
A study of equitable distribution of vertical-transportation (VT) equipment — elevators, wheelchair lifts and escalators — at subway stations in South Korea concluded that the type and amount of VT equipment should be based on individual station needs, phys.org reports. Examining 257 stations in Seoul, the study was conducted by academics from Sahmyook University in Seoul and Texas A&M University in the U.S. Read more here

NEW JERSEY TOWN HALL BUILDING ELEVATOR WORK TO BEGIN
The Bernards Township Committee in New Jersey recently hired contractor West End-KB of Oceanport, New Jersey, to construct a US$1.6 million elevator for the five levels of the 1912 Bernards Town Hall, TAPinto Basking Ridge reports. The cost will be covered by federal funds funneled through the state to help communities recover from the impact of COVID-19. There are multiple levels between the floors of the historic municipal building, and the elevator will be positioned in the rear of the building near the parks and recreation department. All told, five levels of the building will be able to be reached by the elevator, excluding the top floor "as there is no need for public access to that," according to officials. The building was built in 1912 and acquired by the township in 1968. Following renovations and construction of a new addition, the building was dedicated as the new Town Hall and municipal complex for Bernards Township in 1975. The project is expected to start this spring and last approximately nine months.

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COOK ISLANDS LIFT BREAKS DOWN AFTER A MONTH OF BEING OPEN
Cook Islands Investment Corp. (CIIC) confirmed the lift at the Ministry of Justice and Court House building in Avarua, Cook Islands, which broke down before Christmas, was again operational in mid-January after a visit from a Phoenix Elevators Ltd. technician from New Zealand, Cook Islands News reports. The passenger lift officially opened in November after an earlier completion date was projected for August 2023. Read more here

ENTRIES NOW OPEN FOR THE AJ ARCHITECTURE AWARDS
Architects' Journal has announced the return of the AJ Architecture Awards for the seventh consecutive year. Open to all practices regardless of size or scale, these awards highlight the very best projects based in the U.K. across 16-plus categories from housing, health and well-being to workplace and cultural projects. Read more here

ARCHITECT PROPOSES ALTERNATIVE TO ADDRESS NYC HOUSING SHORTAGE
Vishaan Chakrabarti, founder of NYC-based Practice for Architecture and Urbanism (PAU) said in a New York Times opinion piece in December 2023 that PAU has prepared an analysis showing that roughly 520,245 new homes housing up to 1.3 million residents could be created on approximately 1,700 acres of unused city land in NYC, the Council on Tall Buildings and Urban Habitat reports. Read more here

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WORK HAS BEGUN ON BUILDINGS SET TO BE TALLEST IN BEVERLY HILLS
Just west of The Beverly Hilton hotel in Beverly Hills, California, heavy equipment is hauling away soil in advance of a US$2-billion development that will create the tallest buildings in Beverly Hills, Urbanize reports. One Beverly Hills is being developed as a joint venture between Alagem Capital Group and Cain International. Read more here

WINNING DESIGN FOR TENCENT'S NEW GLOBAL HQ IN CHINA
Büro Ole Scheeren has won an international competition for the design of Tencent's new global headquarters (HQ) in Shenzhen, China, Arch Daily reports. The new structure, occupying a 14-ha site, will become part of a new urban development along Qianhai Bay. The swirling shape of the Tencent Helix is meant to represent the company's meteoric growth. Surrounding the dynamic structure, a network of pedestrian pathways connects the headquarters to its urban context. Read more here

MVRDV WINS CHINA SOFTWARE PARK DESIGN COMPETITION
Rotterdam, Netherland-based architecture and urban design practice MVRDV has won the competition to design two structures within the Tianfu Software Park in Chengdu, China, ArchDaily reports. One of the structures is a 150-m-tall tower that acts as a centerpiece to the entire campus. Read more here

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CHINA EVERGRANDE ORDERED TO LIQUIDATE BY HONG KONG COURT
China Evergrande, the Chinese real estate developer that has become a symbol of what has been described as an unprecedented debt crisis in China, has been ordered by a Hong Kong court to liquidate after failing to restructure hundreds of billions of U.S. dollars owed to banks and bondholders, the AP is among outlets to report. The source said that Evergrande owes approximately US$25.4 billion to foreign creditors and has roughly US$240 billion in total assets — an amount "dwarfed by its total liabilities." One lawyer representing a group of creditors said that, in terms of a restructuring gameplan, Evergrande has "a history of last-minute engagement, which has gone nowhere." One of the court-appointed liquidators said the priority is to ensure "as much of the business as possible is retained, restructured and remains operational." One observer said the liquidation is more likely to affect foreign investors and their confidence in the Chinese market rather than Evergrande's operations in China, although there is housing that has been paid for but not yet delivered.

SANKARI PROPERTIES TO BUILD US$1 BILLION DUBAI DEVELOPMENT
Sankari Properties, a new entrant in Dubai's real estate market, plans to build a US$1 billion development in the Business Bay area, The National reported in January. Apartments at the twin residential towers will comprise three-, four- and five-bedroom units, with prices starting at US$10 million. A total of 57 units will be initially offered. Developed amid growing investor interest in the ultra-luxury property segment, the project is planned to be completed by the fourth quarter of 2027.

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