Genesis Gas Solutions entered into an MOU with 'S I C K' a Global Leader in Ultrasonic Metering Solutions

Vikas Lifecare Limited has announced that its recent acquisition Genesis Gas Solutions entered into a Memorandum of Understanding (MOU) with "S I C K" India, a subsidiary company of "S I C K" A.G. headquartered in Germany, for promotion and marketing of a certain type of Ultrasonic Gas Meters in a pre-defined geographical territory including India and certain Asian countries as well, with an initial sales target of INR 450 Million, for the first year.

Vikas Lifecare Ltd. recently announced acquisition of 75% equity of Genesis which is engaged in the business of developing "Smart Products" including Smart Gas Meters & Power Distribution solutions for the infrastructure segment.

Ultrasonic Gas Meters?

Ultrasonic Meters are based on a cutting-edge Ultra Sound technology, which is the latest and considered as a most accurate in gas flow measurement. The ultrasonic compact gas meters ensure extremely accurate gas distribution measurements. These meters do not have mechanical or moving parts providing a secure, continuous and blockage-free gas supply, making it the most rugged, reliable, maintenance-free option which offers a significant reduction in operating costs.

As a technology and market leader, S I C K is engaged in the business of providing sensor intelligence and application solutions in various industrial segments offering a wide array of products for efficient operations and process automations. Creating perfect solutions for processes and material controls which are highly accurate, efficient, and secure.

Founded in 1946, "S I C K" has over 50 subsidiaries and equity investments, operating worldwide with more than 10,000 employees and a group revenue of about EUR 1.7 Billion.

Shares of Vikas Lifecare Limited was last trading in BSE at Rs. 4.95 as compared to the previous close of Rs. 5.21. The total number of shares traded during the day was 1151138 in over 1350 trades.

The stock hit an intraday high of Rs. 5.00 and intraday low of 4.95. The net turnover during the day was Rs. 5701729.00.

Source : Equity Bulls

Keywords

VikasLifecare INE161L01027 GenesisGasSolutions MoU SICKIndia UltrasonicGasMeters