INOVANCE ELEVATOR ADDED BST COMPANY IN ITS ESTABLISHMENT TO BE THE WORLD LEADER IN ELEVATOR CONTROL SOLUTIONS

By LiftVision News June 28, 2020 24 0

BST merged with MONARCH, the business unit of INOVANCE on Elevator, with the aim of creating an elevator platform with world-leading production and creative R&D opportunities.

BST merged with MONARCH, the business unit of INOVANCE on Elevator, with the aim of creating an elevator platform with world-leading production and creative R&D opportunities.

INOVANCE group, as one of the largest industrial automation companies in China, announced that they incorporated the BST, the supplier of electric elevator components. BST's participation in INOVANCE's elevator platform, which has worldwide production and R&D opportunities, will create a business volume worth of 500 million dollars. This merger combines the elevator control technology expertise of MONARCH, the elevator operating unit of INOVANCE, and the product range of the cabin and floor cassettes, buttons and electric lift components of the BST brand. In addition, BST products include door mechanisms and Cabling solutions. These united companies “MONARCH & BST” offer the world's largest portfolio of elevator control solutions. It will also continue to provide products to leading multinational and regional OEMs worldwide.

Monarch specializes in elevator control systems and gearless drive technology and has an all-in-one (integrated) concept that integrates holistic solutions (both the elevator control board and the drive) into a single product package. A member of Monarch's integrated solutions family, the NICE series is used in more than 2,000,000 elevators across the world. MONARCH BST will present the elevator as a single section under INOVANCE with its superior technologies and portfolios that enable product integration. This will be a great advantage for customers who prefer to purchase an elevator package from INOVANCE.

It aims to provide more opportunities for the creation of customized solutions with a significantly expanded product portfolio, as well as a solution point for customers who want to purchase all elevator products from a monopol structure. MONARCH BST Global sales offices, service centers and certified distributor networks offer a comprehensive sales network and after-sales support in Europe, Africa, America, the Middle East and Asia Pacific.

Regarding the subject, Bob Shao, MONARCH BST CEO, said: ‘'As INOVANCE group, we are very excited to include BST in our family. We see strong expertise in BST's expertise in elevator user interfaces and components and MONARCH & BST, which will operate as a single force in the global Elevator market. Advances that we will provide to our customers in the next period will be very diverse, and perhaps the most critical matter is the convenient product integration, which will be provided with MONARCH BST technology. Also, the emerging global sales and after sales support network means that our customers who need new components or technical support can easily access our products and services wherever they are in the world. Entering under the roof of INOVANCE will benefit BST. Because the INOVANCE group will make a difference with its size, strong support network, worldwide production centers and innovative R&D. We aim for global growth and we truly believe in it.

The MONARCH BST business platform is the world's leading elevator control technology company, both in terms of profit and technical expertise..”

ABOUT MONARCH
Founded in 2003, MONARCH has specialized in elevator controllers and gearless drive technology.

The company pioneered the integrated solutions concept that combines the elevator controller with the driver in a single package. MONARCH's product portfolio includes NICE3000 +, NICE1000 + as well as NICE900 integrated door driver. Additional products include a range of open and closed loop elevators and escalator drives. As of 2019 > 2,000,000 NICE integrated elevator drives are operating worldwide.

ABOUT BST
Founded in 1998, Shangai BST (BST) consists of three main business lines; electrical components, automatic door systems and cables. The company is one of the world's largest suppliers for the elevator industry and has customers in more than 83 countries. BST's products include buttons, floor and cabin buttons, revision boxes, door mechanisms, cables and a wide range of engineering maintenance and service products. In 2019, BST joined the INOVANCE group and merged with MONARCH to create a comprehensive elevator business platform.

ABOUT INOVANCE GROUP
INOVANCE is a world-leading supplier of industrial automation solutions. The company was established in Shenzen, China in 2003 and listed on the Shenzen Stock Exchange in 2010. With 1.2 billion dollars revenue and strong global customer base, INOVANCE has world-class production facilities and an innovative R&D center. The company has a rapidly expanding global structure and has offices, factories and R&D centers in CHINA, INDIA, SOUTH KOREA. Moreover, Inovasi Technology has facilities across the European continent, in Europe, Germany, France, Italy and Turkey and also has a special section that offers fast delivery and local support. INOVANCE has invested heavily in the R&D unit in Europe and established the large local engineering research team in Germany with the R&D team in Italy. The company's R&D teams develop products that are fully compliant with European standards, designed for local markets. Currently, R&D teams are working on real-time machine control products software for CNC applications. INOVANCE's work in Europe continues rapidly to cover the servos and drives that manage high-level motion control. For more information, you can visit the company's website. www.inovance.com

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