STOCK TITAN
The best stock market news and trading tools all in one place—your must-have platform for investing success.
A must-have platform for stock market information, offering the best tools and updates to supercharge your trading.
Your trusted source for the best stock market news, trading tools, and expert advice. Everything traders need, in one place.

MiTek Launches Modular Initiative With Danny Forster & Architecture Partnership

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary

MiTek, owned by Berkshire Hathaway, has launched a Modular Initiative in partnership with Danny Forster & Architecture. This initiative aims to meet the rising demand for sustainable, affordable buildings by developing a Modular Activation Platform (MAP). The platform will simplify modular construction for builders and architects, allowing wider adoption across various sectors including hospitality and healthcare. MiTek's Modular Laboratory will enhance manufacturing processes, making modular building more accessible. The company has a strong history of innovation in building solutions and employs over 5,600 worldwide.

Positive
  • Launch of Modular Initiative with Danny Forster & Architecture.
  • Development of Modular Activation Platform (MAP) to simplify modular construction.
  • Focus on sustainable and affordable building solutions.
  • Partnership aims to democratize modular construction across various sectors.
Negative
  • None.

ST. LOUIS, May 19, 2021 /PRNewswire/ -- MiTek, a global provider of innovative construction-based software, services, and engineered building solutions that is owned by Berkshire Hathaway, and Danny Forster & Architecture (DF&A), a New York City-based architecture firm, announce the formal launch of their Modular Initiative, with the mission to help the construction industry answer the global demand for smarter, more affordable, and more sustainable buildings and communities. As part of the agreement, DF&A will lead the design, and research work alongside MiTek's R&D and New Market Growth team, as MiTek invests significant resources in to developing and evolving a modular enablement platform for decades to come. MiTek's Modular initiative will look to innovate at every step of the process and, half a century after it was first touted as the next great thing, finally make modular mainstream.

The core of MiTek's Modular initiative is the development of a Modular Activation Platform (MAP) that will simplify constructing a modular building, even for those who have no previous experience with modular. Developers, GCs, and Architects will be able to choose modular fearlessly, knowing that MiTek's platform will provide them everything they need to get it done: from specialized design software to hands-on guidance from beginning to end. "This will democratize modular--which means revolutionizing the building industry," says DF&A principal Danny Forster, whose own work in modular design attests to his belief in the technology. "Modular has such clear advantages, but for your average commercial builder, the risks are too high and the learning curve is too steep. Our activation platform will change that."

When every builder can make the choice to use modular, the methodology can apply to a wide range of sectors: hospitality, health care, education, multi-family residential. Every building type that has repeatable elements can benefit from the efficiencies of modular. Affordable housing is a perfect example. Todd Ullom, MiTek's VP for Modular, says "Communities across the country desperately need housing, and that is a need that modular can answer—and MiTek can help, collaborating with municipal authorities and MWBE-certified contractors to get it done."

In order to empower builders everywhere and enable widespread adoption of modular, MiTek is not just committing to guiding builders through the system; it is committing to transforming the modular methodology itself, by questioning and improving every step in the modular process. How can fabrication documents be easier to use? How can plumbing be faster to install? How can modules be cheaper to ship?

To answer these questions, MiTek set-up a Modular Laboratory to experiment with and ultimately improve the factory systems that produce modules. This lab will reinvent the manufacturing process using Sub-Assemblies for faster, error-free installation, as well as Time-Machine software that tracks every stage--an invaluable aid to project managers, inspectors, and future owners. This willingness to rethink the process--along with supporting material and technological inventions from a team of more than 400 software engineers--will make modular both more accessible and more reliable.

Although it has recently increased its focus on modular building, MiTek has been committed to building transformation throughout its 80-year history. It now comprises diverse worldwide capabilities that specialize in everything from the building envelope, to structural, mechanical, and electrical systems, to software solutions, as well as design and engineering services.

DF&A brings its modular design expertise to the initiative. The architect of award-winning modular projects (including an AC by Marriott that will be the tallest modular hotel in the world), DF&A is also a global proponent of modular construction: educating public officials and industry leaders, creating testing standards, and inventing new technologies to advance modular building.

About MiTek
MiTek is a platform innovator and enabler that exists to transform the building industry with better building solutions. In 1955, MiTek transformed residential construction with the invention of the Gang-Nail plate, providing an affordable and scalable way to manufacture wood trusses. Today, MiTek delivers software, services, engineered products, and automated solutions that enable the building industry to improve efficiencies by optimizing the balance between off-site and on-site. With nearly 5,600 team members worldwide, MiTek collaborates across the building industry to enable and accelerate transformational breakthroughs in design and construction, to transform the way the industry designs, makes, and builds. As a Berkshire Hathaway (NYSE: BRK-A, NYSE: BRK-B) company since 2001, MiTek has a record of continuous growth and innovation. Learn more at www.mii.com.

About DF&A
Founded by Danny Forster in 2007, DF&A is an award-winning, multi-faceted architecture firm based in New York City. DF&A works collaboratively with its clients to make great spaces that work--for occupants and owners alike--as well as tell great stories through corporate communication, branding, and film and television. Specialties include modular design and innovation, high-rise hospitality, high-end urban residential, and master planning. Founder Danny Forster is an architect, producer, speaker, and expert on modular design. His buildings make a lasting impression on the landscape and the practice of architecture; his talks inspire listeners to see the built environment differently; and his TV, from Discovery Channel's Build It Bigger to the Emmy-Award winning documentary series Rising: Rebuilding Ground Zero, tells the complex stories of transformative construction projects. Learn more at dannyforster.com.

Learn more about MiTek's modular initiative at https://mitekmodular.com/.

Follow us on social media:

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/mitek-launches-modular-initiative-with-danny-forster--architecture-partnership-301293950.html

SOURCE MiTek

FAQ

What is the MiTek Modular Initiative launched on May 19, 2021?

The MiTek Modular Initiative, launched on May 19, 2021, aims to meet global demand for sustainable and affordable buildings by simplifying modular construction through a new Modular Activation Platform.

How does MiTek's Modular Activation Platform (MAP) work?

MAP simplifies the modular building process, providing developers, general contractors, and architects with the necessary tools and guidance for efficient construction.

What sectors can benefit from MiTek's Modular Initiative?

The Modular Initiative can benefit various sectors, including hospitality, healthcare, education, and affordable housing.

How does the partnership with Danny Forster & Architecture support MiTek's goals?

Danny Forster & Architecture brings modular design expertise, helping to advance the initiative through innovative design and education for builders and public officials.

What historical significance does MiTek have in construction?

MiTek has a rich 80-year history of transforming the building industry, notably through innovations like the Gang-Nail plate for manufacturing wood trusses.

Berkshire Hathaway Inc.

NYSE:BRK.A

BRK.A Rankings

BRK.A Latest News

BRK.A Stock Data

983.88B
560.00k
Direct Property and Casualty Insurance Carriers
Fire, Marine & Casualty Insurance
Link
United States of America
OMAHA