News
TEI Group Awarded Major 30-Unit Contract at The Torch
NYC-headquartered TEI Group announced on April 17 it has been awarded a major 30-unit contract at The Torch, a supertall hotel skyscraper also known as 740 Eighth Avenue that will...
TKE Considering US$22.7-Billion IPO in U.S. in 2026
Germany’s TK Elevator (TKE), the fourth-largest elevator maker in sales behind U.S.-based Otis, Switzerland’s Schindler and Finland-based KONE, is considering an initial public offering (IPO) in the U.S. in 2026, Reuters reports....
Progress Made on Elevator Installation in Maldive Towers
The installation of eight additional elevators in four Hiyaa towers in Hulhumale, Maldives, phase two has been completed and is now undergoing testing, according to the Housing Development Corp. (HDC), The...
Nominations Open for TSSA Safety Awards 2025
The Technical Standards and Safety Authority (TSSA), Ontario, Canada’s public safety regulator, announced that nominations of individuals and organizations working in TSSA’s regulated sectors are being accepted for the TSSA...
Hyundai Elevator Smart Hall Button Product Wins Red Dot Design Award
Hyundai Elevator announced it has received the Winner award in the product category of the prestigious Red Dot Design Award 2025, the Korea IT Times reports. The company’s award-winning product is the...
Axxiom Elevator Completes Acquisition of Evolution Elevator
South Florida-headquartered Axxiom Elevator completed its acquisition of Evolution Elevator & Escalator Corp., based in Staten Island, NY, with offices in Fort Lauderdale, Florida, Maven Group, which facilitated the deal,...
77-Year-Old Dies After Falling on Escalator in India
A 77-year-old man succumbed to injuries after falling on an escalator at Pune Railway Station in Pune, India, Pune Pulse reported on April 11. The man was traveling to Nagpur with his...
Unitec Announces Temporary Closure
Unitec Parts Co., the OTIS OEM provider headquartered in Bloomfield, Connecticut, announced it will close temporarily on April 17-18. Unitec, a provider of top-quality elevator and escalator replacement parts for...
Applications Open for NAESA Scholarships
Each year, NAESA International’s Board of Directors awards four scholarships: one in honor of Floyd J. Rommel, one in honor of Marie McDonald, one in honor of Robert S. Caporale Sr....
Madrid Airport First Fully Remote-Operated Hub With TKE System
TK Elevator (TKE) has successfully implemented its MAX Automate system at Adolfo Suárez Madrid-Barajas Airport in Spain. This advanced technology establishes Madrid as the world’s first major airport to remotely operate...
