CONSTRUCTION

XCMG Ranks in Top Three in KHL Group's Yellow Table for Second Consecutive Year

XCMG | June 07, 2022

construction media
XCMG is ranked among the top three original equipment manufacturers (OEMs) in the world for the second consecutive year, according to the Yellow Table published by International Construction Magazine, a subsidiary of global construction media company KHL Group. Furthermore, XCMG's aerial work platform also ranks fifth worldwide in the Access M20 Manufacturers list.

XCMG has performed well in other global performance indicators, with mobile canes and horizontal directional drilling ranked first, tower cranes ranked second, truck-mounted cranes and road machinery ranked third for the first time, mine surface excavation equipment ranked top five, and complete sets of piling machinery and concrete machinery ranked first. XCMG's excavation equipment ranks second in China and sixth in the world and has exceeded 200,000 units in production and sales.

Additionally, XCMG's has made the industry's first position of lifting fire trucks and boom-type aerial work platforms more stable, improving profitability. Revenue for small construction machinery and forklifts increased by 50% and 258% respectively year-on-year. XCMG's new maintenance base is also in operation, with the asphalt station and chassis maintenance products ranking among top two in the industry.

Not only has XCMG's operating income reached a record high, the revenue balance across different product categories has also become more even."

Wang Min, CEO and Chairman of XCMG

Internationalization of markets
In 2021, despite obstacles presented by the pandemic, XCMG expanded to overseas markets and achieved export revenue exceeding RMB 13 billion, a year-on-year increase of more than 90%.

Other international achievements also include investing USD 99 million in North American market expansion, winning a contract for a large order of cranes worth RMB 100 million in Asia-Pacific, deploying almost RMB 200 million of large-scale open-pit mining equipment to Africa, supplying 500 excavators to Southeast Asia and delivering over 100 aerial work platforms to North America.

Additionally, XCMG Brazilian manufacturing base is making breakthroughs in the South American construction machinery market. In 2021, its production and sales volume saw a more than 200% year-on-year increase and its operating scale increased by 198% year-on-year. "The development goal of our Five-Year Plan is to ensure that income from internationalization is no less than 40%," Wang added.

Driving industry change
As a world leader in the construction machinery industry, XCMG's vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.

In recent years, XCMG has continued to strengthen its innovation capacity and develop leading scientific and technological research. Among its products are the world's largest tower crane XGT15000-600S, the world's largest rear-drive mining dump truck DE440, super-large mining grader GR5505, and domestic tonnage loader XC9350, which form part of its extensive catalog of high-quality machinery.

Spotlight

The Aerospace industry is interestingly poised, as demand is primed to outstrip supply. Efforts to increase supply must contend with higher development costs and increased time to market, caused at least in part by a paucity of engineering skills. In response, the industry is looking to build a business model that can easily scale up and down in response to the variability and cyclicality in demand.


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CONSTRUCTION

Linesight: Thriving Global Construction Consultancy Announces Office Expansion in Taiwan

Linesight | June 20, 2022

Linesight announced the relocation and expansion of its Taiwan office which is indicative of local business growth in addition to further strategic expansion plans for Northeast Asia. The new office demonstrates Linesight’s long term investment and commitment to further advance its operations, as well as develop local talent, in the region. Centrally located on the main street of Taiwan boulevard (Taichung) the office provides enhanced accessibility and convenience for both clients and staff, while its modern, open floor plan enables engagement and collaborative working. We are excited to welcome clients, colleagues and friends to our new office. We continue to provide leading cost management consultancy and build trusted partnership relationships with a highly coveted set of clients in the data centre sector as well as in high tech, commercial real estate, life sciences and energy. We have ambitious plans for the region as a whole, are continuously hiring and nurturing great talent and we strive to create an inclusive culture for our teams.” Garvan Barry, Director for Northeast Asia at Linesight Since 2018 the global construction consultancy has been working with clients in Taipei, New Taipei city, Taoyuan, Changhua and Taichung on all aspects of project and cost management including, but not limited to, procurement, scheduling, contract review and administration, and health and safety consultancy. Linesight has successfully delivered over 71MW of critical IT load to Taiwan data centres with a further 125MW coming onstream shortly. Its ongoing projects, including five data centres, are estimated to be completed between mid-2023 and Q1 2024. Commenting on the significance of Linesight’s continued investment in Taiwan, John Butler, Regional Director, APAC said “Over the past 48+ years in business Linesight has gained deep multi-sectoral knowledge and extensive project experience which we bring to bear locally in each of our 24 offices globally. By understanding the local construction landscape, its contractors, vendors and suppliers, we can provide our clients with an extensive set of project controls services including granular cost and schedule data which helps them manage every element of a project throughout its lifecycle and ultimately gives them improved predictability of outcome.” About Linesight Linesight is a multinational construction consultancy firm with over 48 years’ experience, providing cost, schedule, program, and project management services to a multitude of sectors including Life Sciences, Data Centers, Commercial, High-Tech Industrial, Residential, Hospitality, Healthcare, and Retail. Linesight’s specialist project teams, each with specific skills and experience, provide better predictability of project outcomes, faster project delivery, greater cost efficiency, and maximum monetary value for its clients.

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CONSTRUCTION

Nubeva Announces Expanded Focus On Architectural, Engineering, and Construction (AEC) Industry

Nubeva Technologies | May 17, 2022

Nubeva Technologies a pioneer of next-generation solutions for ransomware, announces expanded efforts to help Architectural, Engineering, and Construction (AEC) firms better protect themselves from ransomware attacks. Based on industry-specific feedback and strong early adoption, the company is increasing its focus on the AEC as there is a clear need and fit for Nubeva's new breakthrough solution across the entire industry. With input from 100's of AEC firms, Nubeva's industry brief, Understanding Ransomware in the AEC, discusses the specific circumstances and challenges facing thousands of these companies in the United States alone. These organizations play a vital role in building and maintaining critical infrastructure, making them prime targets for ransomware. Due to industry-specific dynamics and computing models, findings are conclusive that the AEC industry experiences as much as 2x the ransomware attack rates as other industries. "When I first heard about Nubeva's ability to decrypt ransomware from a colleague, I was skeptical. But when we studied and tested it, we quickly realized this was the missing link in our security strategy and a silver bullet for attacks that get past our firewalls, EDR, backups, and other systems," said Andy Knauf, CIO of Mead & Hunt. "Ransomware Reversal essentially provides instant protection as my team was able to fully deploy Nubeva across all of our systems in hours, not weeks or months. It was really easy." Nubeva's Ransomware Reversal solution fills a vital gap for when ransomware gets past security systems, and organizations must recover quickly. The software solution enables organizations to decrypt files and systems locked during a ransomware attack to restore operations faster than other solutions. The software is simple to install across distributed environments, has next to zero ongoing maintenance, and is priced for widespread adoption across companies of all sizes. "It is clear that there is a vital need in this industry. We have booked and billed over $500,000 of contracts in its first 100 days of product availability, with a majority of orders coming from the AEC industry, Once a company engages with us, we see nearly a 50% close rate. In my experience, those are very exciting results. Normally enterprise software and infrastructure sales have nine-month average cycles. This is an excellent sign not only for product-market-fit but also pointing to a low cost of sales. As we establish a strong foothold in AEC, we will expand to other vertical industries, as clearly, this is a problem affecting everyone." Steve Perkins, CMO at Nubeva.

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CONSTRUCTION

Material Bank Wins Prestigious 2022 Adobe Experience Maker "The Disruptor” Award

Material Bank | June 28, 2022

The Adobe Experience Maker Awards has named Material Bank, the world’s largest marketplace for architectural, design, and construction materials, as the winner in The Disruptor category of its 2022 awards program, designed to recognize individuals, companies, and teams creating the most game-changing, innovative, and impactful customer experiences using Adobe Experience Cloud solutions. The awards celebrate leaders in their respective industries that deliver personalization at scale, enable seamless customer journeys, and drive business growth. The 2022 Adobe Experience Maker Awards featured 13 global categories, with winners that include The Home Depot, Yahoo, Verizon, among others. The Disruptor category recognizes a company that has reimagined the commerce experience for B2C and B2B customers by driving growth across multiple sales channels, brands, and geographies. “Adobe’s technology has supported our vision of transforming the way the architecture and design industry works by removing the friction that exists when searching and sampling materials. We are thrilled to have received this extraordinary award alongside some of the best, most future-forward companies in the world and to be recognized for the innovative ways in which we are using Adobe solutions.” - Adam I. Sandow, Founder & CEO of Material Bank. Material Bank was nominated for the award by Imagination Media, certified Adobe Partner agency that develops custom e-Commerce solutions. At the awards ceremony, Adobe recognized Material Bank for creating dynamic, personalized experiences from its extensive product catalog of almost 500 brands, thousands of SKUs, and a content database with more than 27 million unique assets. Adobe’s sophisticated technology helps to power Material Bank’s revolutionary platform that simplifies the complex process of material searching and sampling and connects thousands of design professionals to hundreds of brands. This award follows Material Bank’s recent recognition as one of Business Insider’s Hottest Proptech Startups and Forbes’ Best Startup Employers. Material Bank has experienced extraordinary industry adoption and growth since its 2019 launch and continues to provide powerful solutions that drive the design industry forward. About Material Bank- Material Bank is a marketplace for design professionals and brands in the architecture and design industry, providing the fastest and most sustainable way to search, sample, and specify materials. Named as one of Business Insider’s Hottest Proptech Startups and Forbes’ Best Startup Employers, the revolutionary platform powers complex searches across hundreds of brands in seconds. Samples ordered by midnight (ET) are delivered in a single box by 10:30 AM the next day. With a rapidly growing community of members, Material Bank has changed the way material manufacturers and brands connect with the architecture and design industry.

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CONSTRUCTION

Extracker raises $7 million Series A to expand Change Order platform for construction

Extracker | June 09, 2022

Extracker, the construction industry's only change order communication platform, which digitizes manual workflows and creates financial transparency between construction stakeholders, has raised $7 million in an oversubscribed Series A. Leading the round is Cloud Apps Capital Partners, joined by the construction tech veterans at Building Ventures, and follow-on investment from Jackson Square Ventures who led the Seed round in June 2021. Joining the board are Andy Stinnes, general partner at Cloud Apps Capital Partners, and Jesse Devitte, co-founder and general partner at Building Ventures. Stinnes, who led the investment round, has seen this network model first hand. Even in the challenging investment environment, he sees an exceptional opportunity in the construction technology SaaS platform. "Extracker can emerge as an industry utility in global construction, connecting all the players as the backbone for modern, mobile collaboration to unlock over $20 billion in shared value. We have personally seen this very model play out in both the supply chain and B2B payments markets and know how incredibly valuable and irreplaceable such Industry Utility SaaS companies will become." Allen Preger, Building Ventures Partner and construction technology veteran, understands the issue and opportunity after years solving construction workflows as co-founder at Newforma. "Change orders can make or break a project and put at risk the trust between contractors, owners, designers and subs. Extracker promotes a collaborative versus combative approach to change management; and has demonstrated it can sell and deliver tangible value to each stakeholder in the process. We're excited to back Cameron and the Extracker team, and we can't wait to see where they take it from here." Technology trends such as 3D design are reshaping the future of construction. With a shift towards faster, more iterative project delivery, the industry is at its breaking point with the current tools available including paper, spreadsheets, email and siloed financial software suites. The industry is still tracking 99% of over $150 billion in project Change Orders on paper, email and static spreadsheets, and Extracker is already addressing a massive pain point in commercial construction. Since its inception, they have helped contractors efficiently process and eliminate surprise costs on over $2.2 billion in Change Orders and T&M Tickets. Regardless of what financial software a Specialty Contractor, General Contractor or Owner is using internally, Extracker keeps everyone on the same page in real-time. Using their cloud-based COR Log, Subcontractors can send CORs and have them instantly appear in their General Contractor's account. Contractors now have a shared source of truth to ensure their internal forecasts align with their project partners. Extracker customers are experiencing the benefits of a centralized platform for tracking Change Orders between all project stakeholders and as a result see upwards of 95% faster time to process and close out extra work. Over the past year, they have doubled their paying customers and are proud to have built a platform that supports construction companies of all sizes and across every single trade vertical, including industry leaders like: BrandSafway (scaffolding), Conco (concrete), Performance Contracting Group (drywall), Permasteelisa (glass and glazing), NOVO (general contracting), and BuildGroup (general contracting). At Extracker, we are finding innovative ways to better equip our customers with the tools they need. With this new round of funding, we are expanding our integrations to the industry's most popular project management and accounting systems like Procore, CMiC and Sage, which seamlessly sync CORs and T&M Tags into all stakeholders' systems-of-record. Given the speed and accuracy of Change Order information being collected in our platform, we are excited about the powerful reporting and analytics engine that will harness never-before-captured data our industry leading customers are collecting about their projects." Cameron Page, founder and CEO of Extracker About Extracker Extracker's mission is to create financial transparency between commercial construction companies by reducing exposed risk and time spent tracking extra work. This is done through the industry's only Change Order Communication Platform, which supercharges extremely manual workflows and connects companies outside of their internal financial software to resolve Change Orders in real-time. Along with a collaborative cloud-based log, Extracker includes digital Time and Material Tags, standardized Change Order Templates, trackable Change Notifications, and more, to organize and streamline the process. Extracker is backed by leading enterprise application and construction technology investors Cloud Apps Capital Partners, Building Ventures, and Jackson Square Ventures.

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Spotlight

The Aerospace industry is interestingly poised, as demand is primed to outstrip supply. Efforts to increase supply must contend with higher development costs and increased time to market, caused at least in part by a paucity of engineering skills. In response, the industry is looking to build a business model that can easily scale up and down in response to the variability and cyclicality in demand.

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