Janus Elevator Products Spins off Monitor Controls
Elevator fixture line to operate independently of safety edge and communication business
Hauppauge, N.Y. (September 23, 2011) – The Board of Directors of Janus Elevator Products, Inc., has unanimously approved a separation of the company’s two core businesses – Janus elevator safety edges and Monitor Controls elevator fixtures. The board plans for Janus Elevator Products to continue as an independent company focused on its safety edge, emergency phone, and digital display components business, and spin-off its Monitor Controls elevator fixtures and touch-panel display business into an independent company. Each business has leading consumer brands and the new structure, effective October 1, 2011, will allow each to better serve its customers.
The new company, named Monitor Controls Inc., will continue to provide elevator fixtures and touch-panel display technology for the elevator industry. Rob Isabelle, currently vice president of engineering and manufacturing, will lead the new Monitor as president. Monitor will join Janus in Halma p.l.c.’s elevator division, along with TLJones, Memco and E-Motive.
As an independent entity, Monitor will be able to more effectively address customer priorities with cost effective and innovative solutions, as well as enhance its operational efficiency. Janus will retain its elevator safety edge, emergency phone, and digital display businesses. Mike Byrne will continue as president of Janus.
Both companies are well-positioned for the split with financial strength, flexibility and highly skilled, dedicated employees. The transition is expected to be transparent to customers. All current orders will be processed without interruption.
“The separation of these businesses will allow Janus to better execute a focused strategy to the benefit of consumers of all our product lines,” said Mike Byrne, Janus president. “In March we outlined a plan to address the changing requirements of our customers. Since then, we have observed the acceleration of these market trends, which has led us to take additional steps to transform Janus to meet emerging opportunities.”
“Monitor can now more effectively focus on enhancing service and streamlining the introduction of new products than we could as an operating segment of Janus,” said Rob Isabelle, president of Monitor Controls Inc. “With a renewed focus on our core design and manufacturing business, continued investment in new technology and commitment to build on the potential in the display business, we see a bright future for Monitor as an independent company.”
No related posts.