Digital Twin Technology - The Reinvention of Digitization

The history of creating a replica of physical body dates back to yester years when miniatures were built before the actual development of products or buildings. The process was proven to be quite effective in the management of the development process. This, in turn, facilitated the development of different technologies such as 3D modeling, CAD/CAM, etc. As technology keeps on evolving, the era of digital reinvention has dawned upon us. From miniatures to a digital replica, we have come a long way and still have a long way ahead of us. Digital twin can rightly be named as one of the greatest achievements in our endeavor of digitization. It gives a digital identity to a physical embodiment and helps in the process of assessment, development, performance monitoring, etc. In a precise way, it is designed to increase the effectiveness of the product or process. It has been assessed that large companies are already deploying the technology at a rapid pace. It is further anticipated to witness large-scale adoption over the next couple of years. The product can help these companies in achieving as high as 25% extra effectiveness with the use of digital twin technology. It ensures a connected and creative future of the organization.

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Engineering Tech, Construction

Day & Zimmermann Awarded $985M Tennessee Valley Authority Non-Nuclear Maintenance Contract

PR Newswire | January 05, 2024

Day & Zimmermann (D&Z) announced today that the Tennessee Valley Authority (TVA) has awarded its Maintenance and Construction division a contract to perform maintenance and modification (M&M) services for all of the utility's hydroelectric dams, gas, coal, and pumped-storage hydroelectricity facilities. D&Z will also perform scaffolding, coatings, insulation, asbestos abatement, and lead abatement work. The $985 million contract spans five years with the option to renew for an additional five years. Mobilization will be completed by the end of January. "As the nation's leading maintenance and modifications provider to the power industry, D&Z is best positioned to deliver innovation, a cost-effective and flexible delivery model, and safe and reliable, quality services to TVA," said John McCormick, president of D&Z's Maintenance and Construction division. "With our more than 25 years of experience working with TVA, we've grown to be part of the fabric of the region. We're honored to further lend our expertise and ultimately serve the people of the Tennessee Valley." D&Z has extensive experience and a strong partnership with the union building trades in and around the Valley, which helps the company optimize its resource pool in the area. The contract award underscores D&Z's ability in finding the right quantity and quality of craft professionals to help meet TVA's current and future needs. "As a strong utility partner, D&Z is vested in the Tennessee Valley's prosperity—its people, its community, and its energy needs. We hold long-standing relationships with union labor leaders at the local levels and have a proven track record of safety and developing skilled craft professionals and leadership," said Jason Dunaway, president of Day & Zimmermann's union operations. D&Z has a history of community outreach across the Tennessee Valley and a deep-rooted system of local diverse suppliers. In April 2022, TVA named D&Z its 2022 Prime Supplier of the Year through TVA's Diversity Alliance Program. D&Z has instituted an enterprise-wide supplier diversity initiative with defined diversity standards and processes and administers an employee recognition campaign that rewards employees financially for identifying and developing diverse suppliers. D&Z's Maintenance and Construction division helps customers in power, government, and industrial markets lower their total cost of ownership and do their best work better by delivering safe, first-time quality maintenance, construction, engineering, and specialty services.

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Construction

VOLLERS, Inc. Enhances its Portfolio with the Strategic Acquisition of LAYOUT, Inc.

PR Newswire | January 02, 2024

VOLLERS, Inc. (VOLLERS), the holding company that owns or partners with quality construction services brands such as Vollers Excavating, HVI Services, Aspen Landscaping and Assuncao Brothers, Inc., proudly announces the acquisition of Layout, Inc. (Layout), one of New Jersey's most recognized construction survey firms. This acquisition broadens VOLLERS' array of services in the construction industry through its distinct and operationally independent entities. Brendan Murray, current President of VOLLERS, will expand his leadership role by assuming the role of President at Layout. Giuseppe Messina Jr., from VOLLERS, has been appointed as Vice President of Survey at Layout. James Flores, from Layout, has been appointed as Director of Project Management. "Success in construction is not just about project completion; it's about fostering a culture of efficiency, innovation, and excellence. We're not just building projects, we're building companies that lead the construction industry," states Brendan Murray. "Adding Layout, Inc. to the VOLLERS family of companies enriches our mission and enhances our service offerings across the entire construction community." Layout comes to VOLLERS as a robust business with a strong history of managing complex and substantial infrastructure projects in the region. The synergy between VOLLERS and Layout promises significant value for clients, combining VOLLERS' world-class management capabilities with Layout's surveying expertise to meet evolving market demands with industry-leading effectiveness. "I am very honored to be given the opportunity to bring these two well-respected organizations together," says Giuseppe Messina Jr. "I look forward to leading a diverse and talented team in our unwavering commitment and dedication to providing top-tier service in the Survey industry."

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Market, Engineering Tech, Construction

JRM Construction Completes New Headquarters for Rémy Cointreau at 3 Times Square

PR Newswire | January 30, 2024

<p>JRM Construction Management is proud to announce the completion of a sophisticated project for Rémy Cointreau, a leading international premium spirits distributor. Their new headquarters, spanning 29,850 square feet, is located on the 20th floor of Rudin Management's 3 Times Square tower in New York City.</p><p>Under the guidance of JRM, and in collaboration with TPG Architects, RDA, and Cresa Project Management, the team crafted a full-floor headquarters that embodies Rémy Cointreau's signature luxury brand. The space includes state-of-the-art collaborative work areas, and features high-end bars, perfect for hosting company events and entertaining clients, creating an atmosphere of sophistication and hospitality. Additionally, the new conference rooms are equipped with cutting-edge presentation capabilities, enhancing communication and collaboration among Rémy Cointreau's team members.</p><p>Marc Reissman, Executive VP at JRM, expressed his pride in the project, stating, "Collaborating with Rémy Cointreau to bring their vision to life was a true pleasure. The attention to detail and seamless integration of artistic elements in the design reflects the brand's essence perfectly. This project stands as a testament to our commitment to excellence and our ability to transform visions into inspiring realities."</p>

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Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

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