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Otis seeks successor to CEO Judy Marks

TCTM – Judy Marks is expected to retire after Otis appoints a successor in the first half of 2027, concluding nearly a decade in a leadership role at the American elevator and escalator corporation.

One million social housing units: An opportunity for the elevator industry

‘The race to the bottom’ in China’s elevator industry

Worried about Chinese components, South Korea strives to restore its escalator industry.

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GamaLift is recruiting Sale Marketing

GamaLift is recruiting dynamic, sharp Sales Marketing personnel with the ability to identify customer needs and develop business opportunities; together with GamaLift, deliver suitable solutions, contributing to enhancing safety, quality, and user experience.
No maintenance yet still filing records, China fines a series of elevator enterprises

EM – The regulatory authority of Gansu Province (China) has just announced 5 violations in elevator maintenance activities. Notably, a company created maintenance reports for 68 elevators even though its employees did not go to the site.
Otis appoints Alex Kim as Managing Director of Otis Vietnam & Cambodia

TCTM - Recently, Otis Worldwide Corporation announced the appointment of Mr. Alex Kim as General Director in charge of the Vietnam and Cambodia markets.
US reviews KONE - TKE deal over antitrust concerns

TCTM – The US Department of Justice has opened an in-depth antitrust review of KONE's €29.4 billion acquisition of TK Elevator, which is expected to create the world's largest elevator company.
One million elevators by 2045: Where will the workforce come from?

TCTM - Elevators can be exploited for decades, but are only safe when maintained according to proper procedures, repaired by competent personnel, and monitored throughout their lifecycle. With a forecast of one million elevators by 2045, could the shortage of manpower or uneven quality of technicians lead to a 'crisis' in the elevator industry?
China: Elevator production recovers, exports become a bright spot

EM – In the first six months of 2026, China produced 653,000 elevators, escalators, and lifting equipment, up 3.2% year-on-year compared to the same period in 2025. Amid the continued decline of the domestic real estate market, elevator exports have become a bright spot.
Vietnam is becoming an important elevator import market for China

TCTM – In 2025, Vietnam imported 3,838 passenger elevators from China, an increase of nearly 49% compared to 2024, ranking 8th among the country's largest import markets. The data reflects a significant trade flow, while also raising the question: Will Vietnamese enterprises continue to merely play the role of importers and installers?
Orona IDeO - The City of Green Movements

TCTM - Early morning in Hernani (Spain) begins as sunlight touches the Orona Zero roof and the first elevator rides bring people to workspaces, teaching, and research areas. Electricity is generated, rainwater is retained, and part of the energy from the elevators is recovered within the ecosystem of the innovation city - Orona IDeO, city of innovation.
Kone and TK Elevator officially announce their merger plan

TCTM – On April 29, 2026, Kone Group and TK Elevator (TKE) announced a merger plan through a transaction combining cash and shares, with TKE's enterprise value valued at 29.4 billion euros (34 billion USD).
Kone close to finalising €29bn deal to buy TK Elevator

TCTM – Kone (Finland), an elevator manufacturer, is nearing a cash-and-stock deal to acquire its competitor TK Elevator (Germany), in a transaction that could become one of the largest divestitures by private equity funds in Europe to date.
Inovance introduces elevator technology solutions at Elevator Talk 2026

TCTM - In the context of Vietnam's rapidly growing elevator market, at the Elevator Talk seminar: Applying Technology to Elevators, Mr. Dennis Li - Senior Product Director for the International Market of Inovance Group - introduced a series of technological solutions aimed at enhancing safety and adaptability under real-world operating conditions in Vietnam.
When the elevator market is a 'red ocean'

TCTM - Over the past decade, alongside rapid urbanization and the construction industry boom, the elevator market in Vietnam has undergone significant changes. From apartment buildings, hotels, and shopping centers to townhouses and factories, elevators have gradually become a familiar part of the infrastructure—not only in large buildings but also in smaller-scale civil constructions.

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Part 4: Types of Elevator Traction Cables - Should You Choose PU-Coated Steel Belt?

TCTM – Flat belt, PU-coated steel-core belt allows the use of compact pulleys and traction machines, suitable for machine-room-less elevators and space-constrained projects. In return, the steel core is concealed within the PU layer, requiring a separate monitoring method, while costs and replacement material sources may depend on the manufacturer.