Inovance, China’s largest industrial automation group, has acquired BST and merged it with Monarch, Inovance’s elevator business unit. The merger will allow to draw from Monarch’s expertise in elevator control technology and BST’s knowledge and extensive range of customer-facing electronic control components. The expanded portfolio will now cater better to customers’ needs for customized elevator products and solutions.
Bob Shao, CEO of Monarch BST, described the merger as a “strong complimentary fit”, stating that the most important benefit for the customer will be the “easy product integration that will be enabled by Monarch BST’s complimentary technology. Joining Inovance is of strong benefit to BST because the significant size of the Inovance Group offers a rock-solid base of support and a strong source of expertise and investment into manufacturing and R&D.”