Vikas Lifecare subsidiary to partner with Sick India for ultrasonic gas meters
Vikas Lifecare said that its subsidiary Genesis Gas Solutions has signed a memorandum of understanding (MOU) with Sick India, a subsidiary company of Germany-based Sick A.G. for promoting and marketing a certain type of ultrasonic gas meters in a pre-defined geographical region, including India and some other Asian countries.
The initial sales target for the parties is INR 4,500 crores for the first year.
Sick AG is involved in providing sensor intelligence and application solutions in multiple industrial segments, offering a range of products for efficient operations and process automations.
Recently, Vikas Lifecare announced the acquisition of a 75% stake in Genesis Gas Solutions, which develops smart products such as smart gas meters and power distribution solutions for the infrastructure segment.