ORONA ACQUIRES FRENCH FIRM TO EXPAND SALES
Hernani, Spain-based manufacturer Orona has acquired Sealift Cote d'Azur, what it calls "the leading lift player in the Maritime Alps market.” Based in St. Laurent du Var, the company will continue to operate in lift maintenance contracting, repairing, retrofitting and replacing. It holds over 2,000 maintenance contracts and is the ninth Orona acquisition in France, where it now manages more than 22,000 maintenance contracts that generate more than EUR95 million (US$105.6 million) in revenue.
WILSHIRE GRAND, WEST COAST’S TALLEST, TOPS OUT IN L.A.
Those working on the Wilshire Grand Center, which at 1,100 ft. will be the tallest building west of Chicago upon completion, celebrated a milestone on March 8 with a topping-out ceremony at the site on the corner of Figueroa Street and Wilshire Boulevard in Los Angeles, the Los Angeles Times reports. Otis and Prysmian are among companies providing the building's vertical-transportation system, and Turner Construction is the general contractor. Owned by Korean Airlines, the Wilshire Grand will house 900 hotel rooms and 400,000 sq. ft. of office space, and is scheduled for completion exactly one year from the topping out, on March 8, 2017.
UT: LOW OIL PRICES SLOW ELEVATOR DEMAND IN MIDDLE EAST
United Technologies (UT), parent company of Otis, said low oil prices have put the brakes on demand for products such as elevators and climate controls in the Middle East, Reuters reports. A UT official said customers are delaying delivery of products they already ordered, including air-conditioning, fire and vertical-transportation systems. He called the issue “widespread,” and UT has scaled back its revenue projections as a result.
http://www.elevatorworld.com/industry-news/march-16-2016/
