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JOHNSON LIFTS UPBEAT ABOUT INDIAN MARKET
Chennai, India-based Johnson Lifts is confident it will increase revenue by more than US$117.6 million, to US$323.4 million, by 2019, The Hindu reports. Johnson said it has a fifth of the domestic market and plans to grow by 10-15% annually, compared with industry growth of 10%. Johnson had a compound annual growth rate of approximately 12% through 2014 and experienced a dip in 2015. In the past year and half, it has won orders for 12,000 units. Among its three factories — two in Chennai and one in Nagpur — Johnson can produce approximately 12,500 units annually and has a facility dedicated to escalators.
ELEVATOR-INSPECTION BACKLOG IN CONNECTICUT
Approximately 60% of public elevators in Greenwich, Connecticut, are overdue for inspection, a situation that persists across the state due to a sparse state elevator-inspection staff and heavy workload, Greenwich Time reports. The state Bureau of Elevators has 11 inspectors to handle approximately 17,000 required elevator inspections, along with inspections of elevator modernizations and escalators. State law requires nonresidential elevators to be inspected every 18 months, but, at any given time, 300 of the more than 500 units are overdue for inspection. Many property owners have maintenance agreements with installation companies, but such agreements are unregulated, according to the state.
TWO-TOWER PROJECT PLANNED IN NYC’S LOWER EAST SIDE
J+M Development Partners and CIM Group hope to get the green light for a pair of 69- and 62-story towers linked by a podium at 260 South Street in the Two Bridges neighborhood on the Lower East Side of Manhattan in New York City (NYC), The Lo-Down reports. Containing up to 1,350 apartments (including 338 "affordable" ones), ground-level retail and landscaped public areas, the project is being designed by Handel Architects. Long regarded as one of the last bastions of affordable housing in Manhattan, the Two Bridges area has seen notable activity recently, including a 77-story tower planned by JDS Development that drew grumbles from residents. If J+M and CIM win approval, they hope to start construction in 2018 and complete their project in 2021.
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Photo by heikografie from Pixabay:
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