The Elevator industry, which began in the middle of the 19th century, is a mature sector of the world economy. Global competition, developing markets, and modern, electronics have recently bought technological and structural changes to industry, which will continue into the future.
Trio Elevators Company (India) Limited is also a part to that and has been formed as a joint venture of OTIS Elevator Company (India) Limited and TRIO Elevators Private Limited (Now Known as ALPS Technologies Private Limited). This joint venture has been formed to explore economies of scale and improvement in technology, opportunities for optimization of costs, achievement better quality and higher safety, provision of best quality goods and services at competitive prices, possibilities of achieving synergies in operations in the filed of sales, installation, commissioning, modernization repair and service of elevators.
Whereas OTIS (India) is a part of the United Technologies Group and engaged in the business of sales, installation, commissioning, modernization repair and service of elevators and escalators in India for more than 53 years. OTIS is the world market leader in the elevator industry.
While Trio Elevator Private Limited has been in the elevator business of sales, installation, commissioning, modernization repair and service of elevators from last more than 25 years and today is the market leader with 27% market share in the state of Gujarat. TRIO Elevators Private Limited (Now ALPS) will continue manufacturing parts of elevators at its factory situated at Kalol and will be supply all the parts to the new joint venture.