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CG bags order worth Rs 1.25 bn from Spanish utility GNF
Source: IRIS | 28 Sep, 2015, 12.05PM
Rating: NAN / 5 stars.
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Crompton Greaves (CG), an engineering firm, has won Rs 1.25 billion (Euro 17 million) contract to supply ZIV single and three phase smart meters to Gas Natural Fenosa (GNF) and will be the main supplier for the utility.

ZIV smart meters will cover a large part of the demand for domestic meters from GNF, having won the prestigious order of supplying 750,000 single phase smart meters last year.

In order to respond to the growing market demand with agility, CG has already conducted an expansion and modernisation of its plant in Zamudio, Spain with new automatic assembly lines capable of producing over 2 million smart meters annually.

ZIV's single phase smart meter model is nowadays the reference smart meter in the PRIME PLC market segment, after the deployment of almost 4Million ZIV units worldwide.

Shares of the company gained Rs 0.6, or 0.34%, to trade at Rs 174.90. The total volume of shares traded was 84,595 at the BSE (12.01 p.m., Monday).

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