Wasion and Siemens Set Up Joint Venture on Smart Metering
13th September, 2012- Wasion Group (HKEx: 3393), a leading provider of smart measurement equipment and integrated solutions in the PRC, is pleased to announce that it has entered into a joint venture contract with Siemens, whereby Smart Metering Solutions (Changsha) Co. Ltd. (施維智能計量系統服務(長沙)有限公司) was established. The newly founded company will provide innovative solutions for meter data management software, as well as operational services with high added value in the PRC market. Such offerings will help customers to enhance their operational efficiency. Wasion and Siemens will provide the joint venture with exclusive technologies and management experiences on solutions for meter data management software. At the same time, Wasion will assist the joint venture to gain an international footing by providing related technological support on the development and manufacturing of power meter, gas meter, water meter and heat meter. The business segments of solutions for meter data management software and operational services will mainly target at the PRC market, while the sales channels of Wasion and Siemens will both play a vital role in expanding our business footprint. For the export business of the meter products, through the establishment of the joint venture, Wasion Group will be able to leverage on the worldwide network of Siemens to broaden its overseas meter business rapidly.
The Chairman of the Wasion Group, Mr. Ji Wei said “Since May 2010, a strategic cooperation framework agreement was signed between Wasion and Siemens. In late December 2011, a supply agreement of metering hardware was entered into by both parties. These are all the foundations we set up for the establishment of the joint venture for today. The establishment of the joint venture also symbolizes that Wasion and Siemens have entered into a new stage of cooperation. I have great faith that both parties will fully utilize their joint competitiveness, such that a win-win situation will be achieved under the complement of our strengths and weakness.” Dr. Jan Mrosik, the CEO of the Smart Grid Division of Siemens’ Infrastructure & Cities Segment, stated “By joining forces with Wasion, we will significantly advance our business with meter data management solutions on the Chinese market. We are contributing our expertise and our experience with the EnergyIP meter data management system, which has become an integral part of our portfolio following our acquisition of eMeter. For us, the joint venture is an additional milestone on our way to becoming one of the leading global suppliers of solutions for smart grids..” Siemens is a global leader in electronics and electrical engineering, operating in four business areas: industry, energy, healthcare, infrastructure and cities. For 140 years, Siemens, has pioneered cooperation with China at all fronts through its solutions, technologies and products. Siemens’ unique strengths in technological excellence, continuous innovation, outstanding quality and reliability are widely recognized in China.
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China Power Distribution & Utilization Tech2015
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China Market Study Tour 2015 Smart Distribution, Utilization & Metering Partnerships & Opportunities
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