High growth rates, acquisition and other moves

Hitachi Establishes Vietnam Subsidiary

Citing rapid urban growth, Hitachi, Ltd. has established wholly owned subsidiary Hitachi Elevator Vietnam Co., Ltd., headquartered in Ho Chi Minh City, Vietnam. In 2015, Hitachi received an order for more than 60 units for Urban Railway Line 1 in Ho Chi Minh City, Vietnam’s first urban railway system. This was followed by Hitachi’s launch of a new machine-room-less elevator for Asia and the Middle East. Sales of the new units were launched in September 2016, and Hitachi expects the product to enhance its market share in Vietnam. The company observed:

“In Vietnam, the demands of urban railway systems, hotels, office buildings and residential buildings have been increasing due to recent rapid growth of the urban population. As a result, demand for elevators and escalators that enable smooth transfer in these buildings is expected to rise at a rate of more than 7% annual growth.”

Growth for Mitsubishi Electric in Philippines

Mitsubishi Electric division International Elevator & Equipment, Inc. (IEEI) reports strong demand for elevators and escalators in the Philippines as public infrastructure spending is projected to increase by 14% based on the 2017 national budget, Business World Online reported. With sales currently at 800 units per year, IEEI expects to sell approximately 2,400 units over the next three years as it partners with large property developers such as Ayala Corp. It has also supplied units to large public infrastructure projects such as the Ninoy Aquino International Airport in Manila and is rehabilitating the escalators and elevators in Metro Rail Transit-3 (ELEVATOR WORLD, September 2015).

Major Acquisition for Alimak Group

Alimak Group has announced the acquisition of Façade Access Holdings, a building maintenance unit provider headquartered in Australia with 600 employees all over the world. Façade Access owns the CoxGomyl and Manntech brands and has installed systems on 90% of the world’s tallest 12 buildings. The deal, worth AU$120 million (US$91 million) was expected to close by the end of 2016. Alimak CEO Tormod Gunleiksrud stated:

“The complementary combination of the two companies, especially between the permanent installed solutions of Façade Access and Alimak’s industrial equipment, will enable scale and synergistic advantages in the supply chain and expand overall business opportunity, including further development of the aftersales offering. Hence, I see the acquisition as a strong strategic fit, and I am convinced that it will generate value to our shareholders.”

Belarusian Mogilevliftmash Grows in Russia and Beyond

Mogilev, Belarus-based OAO Mogilevliftmash exported 7,842 lifts from January-September 2016, representing a 26.6% increase from the same time the previous year, Belarus News reported. More than 70% of its exports are sold in Russia, but the company has also sold to Afghanistan, Venezuela, Mongolia, Azerbaijan, Ukraine and Kazakhstan. It sold its first lifts to Germany in 2016 and is laying the groundwork for further growth by investing in manufacturing equipment. Over the past decade, OAO Mogilevliftmash has purchased approximately 300 new pieces of equipment, resulting in an increase in manufacturing capacity by more than 50%. It has more than 130 models, including construction hoists and lifts for disabled passengers. In late 2016, it planned to start manufacturing escalators in the near future.

Otis Unveils New Products, Campaign in London

Otis unveiled its new Gen2® Life and SkyBuild elevators, along with a creative campaign, “Made to Move You,” during an event in London on October 27, 2016. Building on its best-selling Gen2 model, Gen2 Life adds more than 400,000 interior-design combinations aimed at providing continuity throughout a building’s architecture. SkyBuild joins the SkyRise family of products with a unit installed for crews and equipment that transitions to a SkyRise elevator once a project is complete. “Made to Move You” aims to “create a story thread between the connectivity and design aspects of the product and human connections that take place behind an elevator’s closed doors,” as illustrated in a short film.

Sleek, New Look for Quebec City’s Future Tallest

A 185,800-m2, four-building development in suburban Quebec City, Canada, will feature a sleek, thin 65-story tower designed by Alpha Architects and Gensler that will be the tallest in Quebec at 250 m, SkyriseCities reported. Groupe Dallaire unveiled the plans in November 2016, and they could be tweaked further pending public review. Le Phare de Québec is set to house residential, commercial, office, retail and hotel space. If all goes well, Dallaire hopes to start construction this year on the main tower, which is expected to take approximately four years to complete. The other towers are expected to be built over a further six years.

ToHA Includes Israel’s Future Tallest Building

ToHA, a two-towered office complex designed by Tel Aviv, Israel-born, London-based Ron Arad, includes what is expected to become the tallest building in Israel at 63 stories, dezeen reported. Under construction now, it also includes a 28-story building. Located in Tel Aviv’s city center, the structures are angled and asymmetrical, designed to take advantage of natural light and shading. The development is set to include three stories of community space, along with ample gardens and plazas. In all, ToHA will encompass 160,000 m2. Completion is anticipated in 2018.