MATERIALS, CONSTRUCTION

Carrier Completes Acquisition of Toshiba's Global Residential and Light Commercial HVAC Business

Carrier | August 01, 2022 | Read time : 01:39 min

Carrier Completes news
Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, has completed its acquisition of substantially all of Toshiba Corporation's (TOKYO: 6502) ownership stake in Toshiba Carrier Corporation (TCC). A longstanding joint venture between Carrier and Toshiba, TCC is a global provider of residential and light commercial HVAC solutions, including VRF and heat pump products.

"This acquisition presents tremendous growth opportunities for Carrier in the fast-growing, energy-efficient VRF and heat pump markets, Toshiba Carrier's differentiated technology, strong channel and global design and manufacturing footprint allow us to benefit from growing electrification and sustainability trends. We are thrilled to welcome the 6,600 talented TCC employees to the Carrier family."

-David Gitlin, Chairman & CEO, Carrier.

Building on Carrier's previous acquisition of Guangdong Giwee Group, TCC will join the newly created Global Comfort Solutions business unit within Carrier's HVAC segment. The new business will be headquartered in Tokyo under the leadership of Saif Siddiqui, a seasoned Carrier leader who will report directly to HVAC segment President Chris Nelson. Mr. Toru Kubo, who has served as President & CEO of TCC, will be joining the Global Comfort Solutions leadership team reporting to Siddiqui. 

Carrier acquired substantially all of Toshiba's interest in TCC for approximately $900 million, subject to customary closing adjustments. For the fiscal year 2021, TCC had annual sales of approximately $2 billion.

About Carrier-
As the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, Carrier Global Corporation is committed to making the world safer, sustainable and more comfortable for generations to come. From the beginning, we've led in inventing new technologies and entirely new industries. Today, we continue to lead because we have a world-class, diverse workforce that puts the customer at the center of everything we do.

Spotlight

ONE of the macro reason to re-engineer a product is for business continuity. And mostly, when there is a need to re-engineer a product, all that may be available is a black box with the input and outputs known. Each of these products is unique, and the approach for re-engineering for of each of these products will be different.


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ENGINEERING TECH

Trimble Construction Cloud Powered by Microsoft Azure Launches at Trimble Dimensions+ Conference

Trimble | November 08, 2022

Trimble (NASDAQ: TRMB) today announced the launch of Trimble Construction Cloud powered by Microsoft Azure, an industry cloud to streamline construction projects. Trimble Construction Cloud was developed as part of Trimble's collaboration with Microsoft to advance technology adoption and accelerate the digital transformation of the construction, agriculture and transportation industries. Trimble Construction Cloud takes advantage of Microsoft Azure services including Logic Apps, Azure DevOps, and Azure Kubernetes Service. The platform links project teams, data, processes and multiple stakeholders—such as general contractors, subcontractors, designers, engineers and owners—across all phases of construction projects. Connecting people, processes and workflows enables projects to be completed better, faster, safer, cheaper, and greener. By providing seamless collaboration from the field to the back office, Trimble Construction Cloud provides a trusted environment where transparency and actionable data are the new norm. It is also the sole construction industry cloud for Microsoft customers. "Trimble Construction Cloud enables customers to accelerate and deliver improved business outcomes with data from native Trimble and ecosystem of services, It empowers project teams to design, construct, operate, collaborate and learn with live data sharing. This unique approach leverages connected workflows, precise spatial data and constructible models to modernize the entire ecosystem and accelerate customer success. We're excited to help customers and partners achieve more productively and sustainability than before." -Jennifer Lin, senior vice president and chief platform officer for Trimble. Trimble Construction Cloud will launch as the cloud solution powering Trimble Construction One, a purpose-built connected construction management offering that includes rich field data, estimating, detailing, project management, finance and human capital management solutions. Non-Trimble Construction One users can subscribe to Trimble Construction Cloud independently as a separate service. Trimble Construction Cloud includes four main functions designed to automate the flow of data and decision-making for more efficient and predictable business outcomes: Common Data Environment: Task-specific point solutions have created the fragmentation of data and losses in handoffs, as construction is increasingly a mixed fleet world with different equipment, technology, software and information—each of which handle different parts of the construction lifecycle. Trimble Construction Cloud features one centralized, common data environment that connects the office with site operations tools, enabling Trimble and non-Trimble solutions to automatically integrate into one usable data set. This provides enhanced data visibility and unites stakeholders across jobs, teams and departments with the right information at the right time to make the right decisions. Configured and Custom Workflows: Despite the number of repetitive tasks inherent to construction, most contractors still run their businesses manually, which is time-consuming and error prone. Trimble Construction Cloud solves this challenge with configured and customizable workflows that help project teams automate different aspects of their business with commonly used workflows, as well as by building and deploying their own around critical job roles and specific business objectives. The cloud's three configured workflows include a model-to-procurement built for Mechanical, Engineering and Plumbing (MEP); a model-to-fabrication for structures; and a civil bid-to-build for site management. Live Data/Model Sharing: Collaborating across projects in real-time has always been difficult for project teams. Trimble Construction Cloud provides customers with the ability to subscribe to unique capabilities across Trimble and non-Trimble solutions such as Microsoft Teams that serve to enhance and facilitate collaboration across project teams. The Live Sharing capability allows for real-time model collaboration for both Trimble and non-Trimble solutions. With Live Sharing, multiple users can be in several Trimble solutions—such as Quadri, Trimble Connect and Tekla—and view model changes as they happen. Users with non-Trimble solutions can also collaborate in the same modeling process as well. Trimble Developer Portal: Instead of reaching out to various organizations within a business to gain access to a report or specific type of data, Trimble Construction Cloud centralizes the discovery, learning, provisioning, support and successful application of APIs through the Trimble Developer Portal. An easily accessible, centralized portal is designed to facilitate faster onboarding and integration leading to more productive developer experiences. "Cloud-based solutions are designed to take industries to the next level to compete in today's marketplace, Trimble Construction Cloud connects disparate systems and provides new workflows, so stakeholders have the visibility and fluidity they need to further enhance digital transformation." -Casey McGee, vice president of Global ISV Sales, Microsoft. About Trimble: Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

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MATERIALS, CONSTRUCTION

H&E Equipment Services Completes Acquisition of One Source Equipment Rentals Inc.

H&E Equipment Services | October 04, 2022

H&E Equipment Services Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the completion of its acquisition of One Source Equipment Rentals Inc. (“One Source”), effective October 1, 2022. With the closing of the transaction, H&E adds 10 equipment rental locations to its branch network, including initial locations in Illinois, Indiana, and Kentucky. In addition, the Company will supplement its operating presence in the southern U.S. while adding approximately $138 million in fleet as measured by original equipment cost. “The acquisition of One Source demonstrates our commitment to growth through expansion into highly prospective geographies and complements our successful warm start strategy. This year, we have announced eight branch additions through September, including recent openings in Hollywood, FL; New Castle, DE; and Indio, CA. Our expansion into the Midwest and further penetration into the southern U.S. positions H&E for increased participation in the non-residential construction and industrial end-markets. The Company remains committed to further growth of its pure-play rental business and other strategic initiatives.” -Brad Barber, chief executive officer of H&E. Following the closing of the transaction, H&E’s equipment rental operations extend across 120 branch locations in 29 states. 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 and material handling equipment, 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, Southeast, Midwest, and Mid-Atlantic regions.

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CONSTRUCTION

Caterpillar Expands Construction Industries Portfolio with Four Battery Electric Machines

Caterpillar | October 06, 2022

To support customers during the energy transition to a lower-carbon future, Caterpillar (NYSE: CAT) will display four electric machine prototypes, including battery prototypes, at bauma 2022 Oct. 24-30 in Munich, Germany. Caterpillar is focused on delivering purpose-built solutions to help customers achieve their sustainability goals by geography, by jobsite and specific customer need. One of many solutions, the battery electric machine prototypes include the 301.9 mini excavator, 320 medium excavator, 950 GC medium wheel loader and 906 compact wheel loader. The machines are powered by Caterpillar battery prototypes and include an onboard AC charger. The company also plans to offer an offboard DC fast charging option. "Caterpillar is well positioned to help customers reach their sustainability goals, including lowering emissions on the jobsite, It's important we meet customers on their sustainability journey today with a variety of solutions including machines that run on renewable fuels or technology that increases fuel efficiency, as well as supporting them into the future as we power our next generation of machines." -Tony Fassino Group President Construction Industries. The Caterpillar-designed batteries in these machines will also be available to power other industrial applications. Built on proven Caterpillar technology, the lithium-ion battery range features a modular design that offers flexible configurations across multiple applications. The batteries are engineered to be scalable to industry and customer performance needs and maximize sustainability throughout their lifecycle, including recycling and reuse at the end of life. "Our electrified products leverage our deep system integration experience and are designed to meet the performance expectations that customers have come to expect from Caterpillar, We're focused on helping our customers achieve the optimal product and jobsite energy lifecycle, allowing them to maximize value and minimize their total cost of operation." -Joe Creed, Energy & Transportation Group President. About Caterpillar: With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment.

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ENGINEERING TECH, CONSTRUCTION

Sciens Building Solutions Announces First Acquisition in Maryland

Sciens Building Solutions | September 23, 2022

Sciens Building Solutions ("Sciens") today announced it has added to its growing portfolio Maryland-based LS Systems just outside of Baltimore. With four already-established Northeast locations, LS Systems increases Sciens' presence in this region, along with the Washington metropolitan area, allowing them to provide coverage and expanded capabilities to even more customers, while leveraging the unique offerings of LS Systems across the Sciens portfolio. "Sciens' commitment to a Mid-Atlantic regional expansion, combined with our capabilities and relationships, will enhance our ability to serve our loyal customers, as well as new clients, We chose to partner with Sciens to become part of a platform that can serve our customers locally, regionally, and nationally. LS Systems and Sciens both view growth as a top priority, not only for our customer base but for our valued employees, so we're excited to be a part of the ongoing expansion across the country." -Derrick Mitchell, President of LS Systems. LS Systems was established in 1996 just outside of Baltimore, Maryland, where it quickly became a well-respected life safety powerhouse focused on design, construction, and maintenance of fire protection, electronic security, and emergency communication systems. Its team of over 90 professionals are market leaders in providing fire and life safety services in the complex healthcare, retail, hospitality, higher education, and government spaces. "We're taking the fun Sciens journey to Maryland, an exciting addition to our many locations across the country. LS Systems is a true life-safety leader in the Baltimore-area with a team of industry experts whose experience positions them well for growth, Sciens is delighted to partner with Derrick and the entire LS Systems team as we continue on our quest to build the largest independent fire and life safety integrator in the United States." -Terry Heath, CEO Sciens. About Sciens Building Solutions: Headquartered in San Francisco, California, and backed by The Carlyle Group, Sciens Building Solutions is a holding company focused on the fire detection and security services sector. This includes the design, installation, and provision of maintenance services for fire detection and clean agent fire suppression systems in a variety of commercial, institutional, and government facilities. About LS Systems: Founded in 1996 and headquartered near Baltimore Maryland, LS Systems is an industry leader in safety and security systems design, implementation, and maintenance. They offer their clients leading-edge technology, integrated solutions, and passionate problem-solving.

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Spotlight

ONE of the macro reason to re-engineer a product is for business continuity. And mostly, when there is a need to re-engineer a product, all that may be available is a black box with the input and outputs known. Each of these products is unique, and the approach for re-engineering for of each of these products will be different.

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