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Our Bureau

Mumbai, Sept. 19

Genus Overseas Electronics Ltd, producers of multifunction electronic energy meters, has decided to enter into a joint venture with Mobix of Brazil, which has interests in communication technology.

The transaction involves total investment of $15 million, of which $9 million would be raised through loan from development bank in Brazil and the rest through equity from both the companies.

The electronic meters are being manufactured using the latest AMR (Automatic Meter Reader) technology. Genus Overseas, which has a significance presence in Latin America, is already doing pilot projects in Brazil since the last two years.

More Stories on : Alliances & Joint Ventures | Electronics

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