Another Role for Construction Cranes: Economic Indicator

The New York Times | March 19, 2019

To determine the health of the economy, you could scrutinize the minutes of Federal Reserve meetings, pore over the latest economic data and scour trade publications. Or you could simply look up.
The towering cranes that rise above development sites can be a useful financial indicator, like consumer confidence polls or housing starts, according to Rider Levett Bucknall, a construction consulting firm that uses the equipment as the basis for its RLB Crane Index.
The index, a tally of cranes in 13 major North American cities, provides a snapshot of economic sentiment, said Julian Anderson, a president of the firm’s North American region. It was created in 2015 as a tool for clients, who use it to assess hiring trends and activity in urban markets, he said.

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ESI Cloud offers designers and engineers cloud-based computer aided engineering (CAE) solutions across physics and engineering disciplines.

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ESI Cloud offers designers and engineers cloud-based computer aided engineering (CAE) solutions across physics and engineering disciplines.

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ENGINEERING TECH

Altair to Acquire RapidMiner, Continuing Expansion of Broad Data Analytics Portfolio

Altair | September 14, 2022

Altair ( Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), signed a definitive agreement to acquire RapidMiner, a leader in advanced data analytics and machine learning (ML) software. RapidMiner's low-code platform is used by more than one million people of all skill levels to develop production-scale data pipelines and ML models, putting advanced data analytics into the hands of those who know the domain problems best. It provides hundreds of powerful, drag-and-drop building blocks to transform and augment data – greatly accelerating work for coders and non-coders alike – and its flexible delivery models provide users and enterprises with the scale they need, from a user's desktop to on-premises servers to secure, multi-tenant cloud. "This acquisition significantly strengthens Altair's end-to-end data analytics (DA) portfolio, which already offers customers the power to understand, transform, act on, and automate their data, Machine learning is becoming an essential part of business, but often the barriers to building ML models are too high to get started. Too much data, not enough data science expertise, and insecure or unscalable production environments can all keep a business from executing on their data analytics vision. That's where RapidMiner can be transformative." -James R. Scapa, founder and chief executive officer, Altair. RapidMiner's cloud platform takes the best of RapidMiner desktop and adds the strength of the cloud, bringing additional scale and governance to the low-code platform. This multi-tenant, SaaS-ready version enables organizations to ramp up their data science workloads easily and safely. RapidMiner resonates with users in the data analytics community due to its talented, hands-on technical team with decades of experience, led by founder and chief technology officer Dr. Ingo Mierswa, who will join Altair. Under Mierswa's leadership, RapidMiner pioneered the entire concept of visual, explainable data science, and was the first platform to introduce automatic data science, text analytics, automated feature engineering, deep learning, and more. "Altair and RapidMiner share the same vision to make data analytics simple enough for all users, but scalable, governed, and safe enough for all enterprises, We see this as an incredibly exciting opportunity to watch our solutions grow across the globe and expand into a larger, more powerful ecosystem." -Dr. Ingo Mierswa,founder and chief technology officerRapidMiner. RapidMiner reinforces Altair's DA market position in several verticals – especially manufacturing and financial services – through industry expertise and industry-specific ML techniques and data source connections. Sitting next to dozens of existing Altair products already in these verticals, RapidMiner presents an exciting new offering for new and existing customers who will be able to access existing Altair and RapidMiner products easily through Altair's unique units licensing model. RapidMiner will be integrated with existing tools, such as Altair Knowledge Studio, Altair SmartWorks, and Altair SLC, to provide a comprehensive, code-optional, multi-language, SaaS-ready, cloud-scale platform for enterprise data analytics and data science. About Altair: Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future.

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ENGINEERING TECH,CONSTRUCTION

Johnson Controls Collaborates with 3Degrees to Accelerate the Race to Net Zero

Johnson Controls | August 22, 2022

Johnson Controls (NYSE: JCI) announces its collaboration with 3Degrees, a firm that helps organizations around the world achieve renewable energy and decarbonization goals. The new collaboration aims to accelerate building owners' and operators' progress toward net zero by leveraging 3Degrees' large-scale environmental commodity solutions, including Renewable Energy Certificate (REC) transactions, long-term renewable energy procurement, carbon credit portfolio management, transportation decarbonization and climate advisory services. "The need for global net zero solutions has never been greater, and global organizations are turning to Johnson Controls to help them achieve their goals, This collaboration with 3Degrees provides customers with market-sourced renewable energy supply services, which, together with energy efficiency, is one of the most effective paths for customers to address operational carbon emissions and achieve net zero." -Dan Svejnar, vice president, Renewable Services, Sustainable Infrastructure, Johnson Controls. The energy supply services can be delivered as part of the comprehensive Johnson Controls OpenBlue Net Zero Buildings offering or as a stand-alone service. OpenBlue Net Zero Buildings designs, digitizes, and deploys net zero solutions at any stage. The steps range from goal setting and facility-wide digitalization to distributed energy strategies and renewable energy supply services. The solution is also available as a performance-based service where customers pay for the outcome with a fixed monthly fee to lower their inherent risk and avoid capital investments. The latest climate report released by IPCC shows a rapidly closing window to avoid irreversible adverse climate change and reach net zero by 2050. Scientists are calling for an immediate decrease in greenhouse emissions after findings showed carbon levels continuing to increase. The United Nations' Paris Agreement target to achieve net zero greenhouse gas emissions by 2050 is fast approaching, causing governments, businesses, and organizations around the world to rearchitect regulations and hold themselves accountable. The collaboration with 3Degrees will support global customers' urgency to meet these environmental targets. "The challenge is clear—building emissions currently account for nearly 40% of total global emissions, It's through partnership, innovation, and steadfast commitment that we drive meaningful decarbonization. This partnership offers customers end-to-end climate solutions to accelerate our collective progress to net zero emissions." -Scott Martin, vice president and head of global commercial business at 3Degrees. About Johnson Controls: At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn, and play. As the global leader in smart, healthy, and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places, and the planet. mBuilding on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing, and beyond through OpenBlue, our comprehensive digital offering. Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world's largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry. About 3Degrees: 3Degrees, a Certified B Corporation, makes it possible for businesses and their customers to take urgent action on climate change. We help organizations around the world achieve renewable energy and decarbonization goals through our work with global Fortune 500 companies, utilities, and other organizations that want to join the fight against climate change. The 3Degrees team has deep expertise in sustainability consulting, environmental markets, renewable energy and carbon project development, transportation decarbonization solutions, and utility renewable energy programs. Together with our customers, 3Degrees helps develop and implement creative solutions that ensure environmental integrity and make good business sense.

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MATERIALS,CONSTRUCTION

H&E Equipment Services Signs Definitive Agreement To Acquire One Source Equipment Rental, Inc.

H&E Equipment Services | September 20, 2022

H&E Equipment Services, Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the signing of a definitive agreement to acquire One Source Equipment Rental, Inc. (“One Source”), a provider of non-residential construction and industrial equipment with operations in the Midwest and Southern U.S. One Source, which is employee owned, operates 10 branches, including three locations in each of Illinois and Indiana, two locations in Tennessee and one in each of Kentucky and Alabama. Under the terms of the definitive agreement, H&E is expected to pay $130 million in cash for One Source, before customary adjustments. The transaction is expected to close during the fourth quarter of 2022, following regulatory clearance and the completion of other customary closing conditions. “For more than 20 years, One Source has emphasized a culture where equipment reliability and customer support and satisfaction are vital features for success, resulting in an equipment rental operation with strong consumer loyalty throughout its branch network. These important attributes, which are underscored by a dedicated base of employee owners, offer an exceptional cultural fit with H&E. Also, the transaction will expand our geographic footprint into the Midwest with operations in Illinois and Indiana, as well as operations in Kentucky. Finally, the demonstrated success of our accelerated warm start plan, with 15 warm start and greenfield locations established since early 2021, will prove beneficial as we evaluate post-integration growth opportunities in the Midwest and other surrounding regions with attractive prospects for expansion.” -Brad Barber, Chief Executive Officer of H&E Equipment Services. Over the last twelve months ended July 31, 2022, One Source has generated revenues of approximately $59 million with a fleet size, as measured by original equipment cost (OEC), of approximately $138 million. One Source’s fleet consists primarily of aerial work platforms, material handling equipment and other general equipment lines. About H&E Equipment Services, Inc: Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast States, Southeast, Midwest, and Mid-Atlantic regions.

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