Genus Overseas, Brazil firm form JV

Rajasthan-based Genus Overseas Electronics Ltd, one of the largest producers of multifunctional electronic energy meters, has decided to enter into a joint venture with Mobix, a Brazilian company, which is one of the leaders in communication technology.

The transaction involves an investment of $15 million. Of this, $9 million will be raised through loans from development banks in Brazil and the rest will be raised through equity from both the companies.

The electronic meters are being manufactured using state-of-the-art Automatic Meter Reader (AMR) technology. Genus Overseas products have found wide acceptance in Latin America. The company is already doing pilot projects in Brazil for the past two years and have got all necessary approvals there.

"With this joint venture with Mobix, it has entered the world market because there is huge demand for electronic meters in Latin America, Africa, etc," said Genus Overseas Electronics Ltd Director Kailash Agarwal.

Genus Overseas Electronics Ltd is one of the market leaders in the design and manufacture of high-end multi-functional intelligent single phase and three-phase meters with in-built advanced security and anti-tamper features, AMR-enabled meters, Trivector meters, Time of the day (TOD) meters, Audit meters, Hybrid Microcircuits (HMCs), and Resistor Networks.

These activities of Genus form part of Energy Management Systems (EMS). To intensify the efforts in EMS, over the preceding few years, Genus has taken one more step by venturing into projects in power distribution sector.

Genus is an ISO 9001:2000 certified company. It has IECQ, CE and EMI/EMC certifications for all key components and products.