Elevator World

Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

CANTON, MASSACHUSETTS-BASED 3PHASE ELEVATOR ACQUIRES BERKSHIRE PARTNERS

3Phase Elevator has entered into an agreement with Boston-based Berkshire Partners to acquire the company from investor Fort Point Capital, Business Wire reported in June. The investment will allow 3Phase Elevator to grow throughout the United States, as it has with six previous acquisitions of independent elevator and escalator services providers, four of which occurred in the last 12 months. “We are thrilled to partner with the Berkshire team,” said Mike Strachan, CEO of 3Phase. “This investment comes at an important time in 3Phase’s growth, and we expect that Berkshire’s digital and go-to-market capabilities will help us further strengthen the service we provide our existing customers, and also attract new customers.”

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

HYUNDAI ELEVATOR BUOYED BY KOREAN GOVERNMENT POLICIES

New housing starts and elevator installations in Korea should continue to grow in response to government policies aimed at expanding housing supply, and accordingly, Hyundai Elevator is set to enjoy profitability improvement, considering signs of earnings recovery at its subsidiaries (including its tourism, leisure, and finance businesses), BusinessKorea reported on June 3. Government policy initiatives should ensure that housing construction and elevator installation volume continue rising going forward — both the ruling party and the main opposition party have made proposals aimed at expanding housing supply in metropolitan areas. Over the long term, rising housing supply should lead to trickle-down effects in the form of higher demand for elevators. Of note, domestic housing construction starts rose 15.6% year-over-year (YOY) in 4Q20 and 13.1% YOY in 1Q21, and domestic elevator installations increased 5.3% YOY in 4Q20 and 13.3% YOY in 1Q21. Hyundai Elevator’s non-operating income is also set to improve, helped by the separation of Hyundai Merchant Marine from Hyundai Group, reduced exposure to derivatives, and earnings turnarounds at its subsidiaries, according to the source.

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

ELEVATOR INDUSTRY FOURTH COVID-19 SURVEY RESULTS ANALYSIS

Elevator World, Inc., the German elevator association VFA Interlift e.V. and fair organizer AFAG, in association with Credit Suisse, recently shared results of their fourth survey of elevator industry representatives on current industry status and future business outlook during the COVID-19 pandemic. The survey received nearly 400 responses, compared with 600 in the third iteration (ELENET 875), 572 in the second (ELENET 861) and 550 in the first. Credit Suisse Managing Director and Head of European Capital Goods Equity Research André Kukhnin assisted with preparation of a chart analysis, including breakdowns by country, of the results, including responses on the risk of rising raw materials costs to businesses in 2021.

Image credit: by Miroslava Chrienova for Pixabay

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

KONE ACQUIRES DETROIT ELEVATOR CO.

KONE announced on June 1 that it has acquired the service and repair business of Detroit Elevator Co. in Ferndale, Michigan, including its operations throughout the greater Detroit area and stretching north and west to Flint and Grand Rapids. Detroit Elevator, founded in 1914, built its business on performing service, new installation, modernization and repair work. KONE said the acquisition strengthens its local operations and brings additional talent and experience to KONE's Detroit and Grand Rapids teams.

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

CUOMO ANNOUNCES EAST SIDE ACCESS CONSTRUCTION MILESTONE

On May 27, Gov. Andrew Cuomo announced completion of civil construction on the NYC Metropolitan Transportation Authority's (MTA) East Side Access megaproject. Outfitted with 17 high-rise Schindler escalators, including the longest in the MTA system at 182 ft, the project connects the Long Island Rail Road (LIRR) to a new, 350,000-ft2 passenger terminal under Grand Central Terminal in Manhattan. Conceived in the 1960s, the East Side Access project includes the largest new train terminal to be built in the U.S. since the 1950s and represents the first expansion of the LIRR in more than a century. As part of the announcement, Cuomo and MTA Construction and Development President Janno Lieber led a tour of the project during which Lieber observed that, despite challenges, the MTA stuck to its commitment to complete the project by 2022. "East Side Access is one of North America's largest transportation projects — an audacious US$11-billion idea changing the entire regional transportation system," Cuomo said. Set to open next year, East Side Access will "significantly" cut travel times and ease the commute into Manhattan for "countless" travelers, he stated.

Image credit: courtesy of New York Gov. Andrew Cuomo's office

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

NAEC HOLDS TOWN HALL ON 2019 CODE UPDATE & INTERPRETATIONS

The National Association of Elevator Contracts (NAEC) hosted a virtual town hall event on May 25 to discuss the 2019 code update and AHJ interpretations. The focus of the event was how local authorities are responding to the changes that came with the 2019 Code Update and what industry professionals need to know about the local interpretations of the update. Panelists included Carl Burch from Vantage, Chris Strawn from Elevator Safety and Technical Services and Don Holloway and Dave Mann from Kings III Emergency Communications. Burch gave an overview of the updates to the code, the committees within American Society of Mechanical Engineers and the process for receiving an interpretation or suggesting an update. Holloway, Mann and Strawn went into specifics on a few of the most impactful 2019 updates.

Image credit: courtesy of NAEC

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

TEI GROUP VT SYSTEM FOR NEARLY COMPLETE NYC CONDO TOWER

TEI Group shared details with ELEVATOR WORLD about the vertical-transportation (VT) system serving the nearly complete The Cortland, a 26-story condominium building at 555 West 22nd Street in West Chelsea, Manhattan. Designed by Robert A.M. Stern Architects with SLCE as the architect of record and developed by Related Cos., the 141-unit property has six traction elevators. There are four 2500-lb passenger and two 3500-lb service elevators. All travel at up to 700 ft/min. With VDA serving as consultant, the job also includes one hydraulic 8000-lb automobile lift traveling at up to 100 ft/min. The traction elevators are powered by MCE iControllers and Torin machines, while the hydraulic unit utilizes a package from Mongrain Vertical Transport. TEI said it has worked on many projects with SLCE and VDA, and observed, "Related Management is running a wonderful project, right on schedule."

Image credit: by Michael Young for New York YIMBY

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

MASPERO ELEVATORI WINS VT CONTRACT FOR PALAIS DES NATIONS

Maspero Elevatori has been awarded a more-than-EUR2.8-million (US$3.4-million) contract for the vertical-transportation (VT) portion of renovation of the historic Palais des Nations, the United Nations (UN) European headquarters (HQ) in Geneva, Switzerland. VT work is scheduled to start in October. The first step will be replacing doors and gears and installing new-generation electrical panels to maximize safety and energy efficiency on 25 elevators. The first modernized lifts are due to be complete in the first quarter of 2022. Maspero is also designing 11 new lifts, with construction set to start in 2022 and installation by the end of 2023. All elevators will be connected to a monitoring system that sends data to a control room, allowing supervision, monitoring and management of access and movement to ensure safety and security. Cloud-based software and a series of sensors will monitor functioning, allowing automatic detection of faults and activating or deactivating access to certain floors, if necessary. After the NYC HQ, the 100,000-m2 Palais des Nations, situated on 46 ha in Ariana Park overlooking Lake Geneva, is the UN’s most important international operations center. Built between 1929 and 1936, it is one of the busiest diplomatic centers in the world. Webuild-CMB-Italiana Construczioni joint venture is handling the overall renovation with a focus on protection of historical heritage, work safety and accessibility.

Image credit: © figurniy

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

VANCOUVER HOUSE LANDS TOP CTBUH AWARD AND MORE

Vancouver House, a 49-story residential tower in Vancouver, Canada, boasting TKE elevators that tie those at Calgary's Telus Sky for fastest in western Canada at 1,600 ft/min, received the Council on Tall Buildings and Urban Habitat (CTBUH) Best Tall Building Worldwide Award at the CTBUH 2021 Tall + Urban Innovation Conference held virtually on May 18-20. GUNN Consultants consulted on the vertical-transportation system, which includes 17 passenger and two freight elevators, for client Westbank Corp. Dialog designed custom cab interiors for the project, which includes two dedicated elevators for bicyclists on Granville Bridge. Bjarke Ingels Group is behind the innovative design that forms a triangle at the base and gradually transitions to a rectangle as it ascends. The skyscraper sits on a narrow, triangular site where Granville Bridge forks in three directions upon reaching downtown. Vancouver House also won in the Best Tall Building 100-199 m, Best Tall Residential or Hotel Building and Structural Engineering categories. Elsewhere in Canada, Telus Sky took the Best Tall Building 200-299 m category and the Daphne Cockwell Health Sciences Complex in Toronto was deemed Best Tall Mixed-Use Building. Vancouver House also received a pair of Audience Awards, voted on by the hundreds of attendees, in Best Tall Building 100-199 m and Best Tall Residential or Hotel Building. A full list of the 2021 winners in all categories may be found here.

Image credit: CTBUH © Ema Peters

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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Welcome to the Elevator World News Podcast. Today’s podcast news podcast is sponsored by elevatorbooks.com: www.elevatorbooks.com

CORBO NAMED FIRST U.S.-BASED PRESIDENT OF MEUS

Mike Corbo has been promoted from chief operating officer (COO) to president and CEO of Mitsubishi Electric U.S. Inc. (MEUS) becoming the first U.S.-based leader of the Cypress, California-headquartered company, MEUS announced on May 20. Masahiro (Max) Oya takes on a newly created role as chairperson of MEUS, overseeing holdings throughout the Americas. He remains Mitsubishi Corp.'s chief representative for the Americas. Corbo began his MEUS career in 1986 in the Elevator & Escalator division. He was promoted to executive vice president and COO in 2018, overseeing six divisions, 1,600 employees and 38 locations throughout North America. In his new role, he is charged with building on the leadership of all MEUS business units and overseeing the Americas corporate office, which provides strategic and operational services to Mitsubishi Electric companies in North America that include factories in Ohio, Pennsylvania and Kentucky. He has been appointed to the Board of Directors (BoD) of Mitsubishi Electric Trane HVAC US LLC and continues to serve on the BoDs of MEUS and the Mitsubishi Electric America Foundation, the group's philanthropic organization supporting disabled youth.

To read the full transcript of today's podcast, visit: elevatorworld.com/news

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