Vikas Lifecare's subsidiary Genesis Gas Solutions inks MoU with "S I C K"

23 Feb 2022 , 03:11 PM

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.

At around 3:15 PM, Vikas Lifecare was trading at Rs5.19 per piece higher by 4.85% on Sensex.