Elster Agrees to Joint Venture with Chinese Water Meter Company
Elster will provide C&I water meters to Chinese market
Elster announced that it signed a joint venture agreement with Jiangxi Sanchuan Water Meter Co. Ltd. (Sanchuan) to produce and supply C&I water meters to the Chinese water industry. Elster will have a 55% stake in the joint venture.
With this investment, Elster will introduce C&I water metering technology to China, the world's largest water meter market by units.
Sanchuan provides a range of mechanical and electronic water metering products and accessories. In March 2010, the company gained recognition for being the first in the water meter industry to be registered on the Shenzhen Stock Exchange.
Sanchuan holds both ISO 9000:2000 Quality Management certification and ISO 10012:2003 Measurement Management certification, and holds 22 invention patents, mainly for residential water meters. In 2009, Sanchuan produced 4.7 million residential water meters from its two major production facilities in China, one in Jiangxi, the other in Shandong.
"We are delighted to have entered into a joint venture agreement with Jiangxi Sanchuan Water Meter Co. Ltd. They have developed into one of China's leading water meter companies with an extensive distribution channel in mainland China," said Jerry Lauzze, executive vice president of Elster's global water business.