This video tells the story of our Magnet Technology Machines division (MTM) that manufactures GreenStar® - a compact and energy-efficient range of gearless PMSM machines for elevators.
In 1974, we diversified into the manufacturing and installation of Olympus Elevators to meet the rising demand for vertical transportation. Although this business was divested in 2004, it provided us with technical expertise and domain knowledge of the elevator industry.
This experience served us in establishing our MTM division in 2008, with the aim of providing advanced technology in gearless elevator machines. With a technology transfer agreement with our overseas partner Permagsa, headquartered in Spain, we became the first Indian manufacturer of gearless machines for elevators. GreenStar is exported globally, and powers elevators in four continents.