Construction & Property

Home and Garden Supplies Witness Unprecedented Demand as COVID-19 Isolation Triggers Creativity - ResearchAndMarkets.com

Thursday, April 2, 2020 - 10:15am

ResearchAndMarkets.com identifies Home and Garden as one of the key industries seeing increased demand due to the coronavirus pandemic.

Key Points: 
  • ResearchAndMarkets.com identifies Home and Garden as one of the key industries seeing increased demand due to the coronavirus pandemic.
  • Hardware stores are seeing unprecedented demand for tools and hardware supplies as consumers in self-isolation use the time to complete home improvement projects.
  • Due to the COVID-19 pandemic more and more people are staying at home in order to protect themselves.
  • This has created a surge in interest in DIY and gardening as consumers find new ways to improve their living space and keep themselves entertained in self-isolation.

Global Water Storage Systems Market Analysis, Trends, and Forecasts 2019-2025 - ResearchAndMarkets.com

Thursday, April 2, 2020 - 9:48am

The "Water Storage Systems - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Water Storage Systems - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.
  • The Water Storage Systems market worldwide is projected to grow by US$3.5 Billion, driven by a compounded growth of 3.9%.
  • Concrete, one of the segments analyzed and sized in this study, displays the potential to grow at over 4%.
  • Poised to reach over US$4.3 Billion by the year 2025, Concrete will bring in healthy gains adding significant momentum to global growth.

Stone Estate.Swiss Management AG Appoints Alastair Manning as Managing Director & Head of Asset Management

Thursday, April 2, 2020 - 8:00am

Stone Estate.Swiss Management AG (Stone Estate), a Swiss real estate investment company and part of the Reech Corporations Group, has appointed Alastair Manning as Managing Director and Head of Asset Management with immediate effect.

Key Points: 
  • Stone Estate.Swiss Management AG (Stone Estate), a Swiss real estate investment company and part of the Reech Corporations Group, has appointed Alastair Manning as Managing Director and Head of Asset Management with immediate effect.
  • His primary focus will be the management of Stone Estates existing portfolio as well as targeting new investment opportunities.
  • Alastair joins from Pears Global Real Estate Investors where he served as Head of Asset Management, overseeing a pan-European portfolio of commercial and residential assets.
  • Alastair Manning commented, Stone Estate is a unique business with a highly experienced senior management team, local as well as international market perspectives and, importantly, significant growth ambitions.

SoftBank Group Announces End of WeWork Tender Offer Because Closing Conditions Not Met

Thursday, April 2, 2020 - 6:36am

SoftBank and the SoftBank Vision Fund have committed more than $14.25 billion to WeWork to date, including $5.45 billion since October 2019.

Key Points: 
  • SoftBank and the SoftBank Vision Fund have committed more than $14.25 billion to WeWork to date, including $5.45 billion since October 2019.
  • In December 2019, SoftBank made up to $2.2 billion in debt financing available to WeWork via unsecured notes to be issued by WeWork.
  • When the tender offer was negotiated in October 2019, SoftBank, WeWork, WeWorks Special Committee, Adam Neumann and SoftBank Vision Fund agreed that SoftBank would not have to close the tender offer unless certain specifically negotiated conditions were satisfied.
  • Several of those conditions were not met, leaving SoftBank no choice but to terminate the tender offer.

Canibuild Saves Construction Industry in Light of COVID-19

Thursday, April 2, 2020 - 5:45am

Canibuild has launched its highly anticipated online application for the Australian construction industry.

Key Points: 
  • Canibuild has launched its highly anticipated online application for the Australian construction industry.
  • Construction needs to do in a day what it hasnt been able to do in the last decade and thats to go virtual in order to continue operating.
  • Founded in 2019, Canibuild allows builders to search for properties across Australia, placing customised designs and structures on any block.
  • Canibuild wont solve all problems but it will turn construction virtual overnight Timothy Cocaro.

MHPS: World’s Most Efficient Power Plant Is Synced to the Grid and Operating at Full Load, Ahead of Schedule

Thursday, April 2, 2020 - 3:00am

Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has begun commissioning of T-Point 2, its new combined cycle power plant validation facility at Takasago Works in Hyogo Prefecture, Japan.

Key Points: 
  • Mitsubishi Hitachi Power Systems, Ltd. (MHPS) has begun commissioning of T-Point 2, its new combined cycle power plant validation facility at Takasago Works in Hyogo Prefecture, Japan.
  • Like its predecessor, T-Point 2 stands apart as the only facility in the world that performs full-scale long-term reliability verification for gas turbines.
  • Connected to the actual grid, it is the only plant of its type in the world to function as both a technology demonstrator and an electric power producer and supplier.
  • Also housed within Takasago Works are centers for R&D, design, manufacturing, and short-term component testing.

Real Estate Firm Baird & Warner Announces $150,000 Donation Toward Chicago’s COVID-19 Response

Wednesday, April 1, 2020 - 11:31pm

Doing things the right way is as much a part of the Baird & Warner legacy as it is our future, said Stephen Baird, fifth-generation president and CEO of Baird & Warner.

Key Points: 
  • Doing things the right way is as much a part of the Baird & Warner legacy as it is our future, said Stephen Baird, fifth-generation president and CEO of Baird & Warner.
  • Baird & Warner agents, loan officers and employees have always been proud to support the Chicagoland communities where we live and work, continued Baird.
  • About Baird & Warner Real Estate, Inc.:
    Established in 1855, Baird & Warner is Illinois largest family-owned independent real estate services company.
  • The Baird & Warner brand has been synonymous with making real estate easier through experience, innovation, and integrity for more than 160 years.

IFTI Expands Its Offerings with Its New PROvision 3D Imaging Solution Providing a No-Travel, Cost Efficient Alternative for Creating a Virtual and Interactive View of Any Physical Space

Wednesday, April 1, 2020 - 11:16pm

All industries, especially retail, construction, and healthcare, are embracing 3D technologies in increasing numbers to more accurately, remotely and economically manage facilities, construction sites or optimize retail environments.

Key Points: 
  • All industries, especially retail, construction, and healthcare, are embracing 3D technologies in increasing numbers to more accurately, remotely and economically manage facilities, construction sites or optimize retail environments.
  • Yet, 3D Imaging solutions have traditionally been relatively slow, hard to scale, expensive to deploy and demanding in creating the imaging processing involved, said James Duffy, Vice President at IFTI.
  • With PROvision, IFTI transformed a cutting-edge technology into a reliable, scalable professional solution, delivered through a proven network of technicians available in all 50 states.
  • PROvision solution provides the best visual and dimensional information throughout the lifecycle of a physical space, that are either under construction or completed.

Beacon Elects to Draw Down on Revolving Credit Facility to Further Strengthen Cash Position

Wednesday, April 1, 2020 - 10:15pm

Beacon (Nasdaq:BECN) (the Company) announced today that it elected to draw down approximately $725 million from its revolving credit facility.

Key Points: 
  • Beacon (Nasdaq:BECN) (the Company) announced today that it elected to draw down approximately $725 million from its revolving credit facility.
  • Details of the draw are described in the Companys Form 8-K filed concurrently herewith.
  • After the draw, Beacon will maintain approximately $185 million of additional capacity on its revolver.
  • Our outstanding credit facility provides Beacon considerable financial flexibility to manage our balance sheet, and our draw on our ABL revolver exemplifies this.

SiteOne Takes Actions to Increase Financial Flexibility

Wednesday, April 1, 2020 - 10:00pm

SiteOne Landscape Supply, Inc. (NYSE: SITE) announced today actions to increase the Companys financial flexibility amid the ongoing coronavirus (COVID-19) situation.

Key Points: 
  • SiteOne Landscape Supply, Inc. (NYSE: SITE) announced today actions to increase the Companys financial flexibility amid the ongoing coronavirus (COVID-19) situation.
  • We believe that SiteOne has a solid balance sheet and liquidity, and we have no significant debt maturities until 2024.
  • However, given the uncertainty brought on by COVID-19 we have decided to enhance our cash position and increase our financial flexibility by borrowing on our Asset Backed Lending (ABL) Facility, said Doug Black, Chairman and CEO of SiteOne.
  • After the borrowing, SiteOne has approximately $117 million cash on hand and approximately $46 million in available capacity under its ABL Facility.