Press Release
Elster Group, a leading supplier of metering solutions, has reached agreement with Severn Trent Services, a member of the Severn Trent Plc (London: SVT.L) group of companies, to acquire its SmartMeter™ water meter and Ajusta™ boundary box businesses. The SmartMeter range of AMR-enabled products incorporates no–moving-parts technology to deliver accuracy alongside intelligent metering features such as tariffs and event monitoring. The transaction encompasses the entire range of SmartMeter technology, trademarks, the production facilities as well as the distribution channels.
Elster Group looks forward to welcoming the employees of the Smart Meter and boundary box businesses.
James D. McGivern, Elster Group’s CEO, says: "The SmartMeter technology represents a perfect fit with Elster Group’s leading Automated Meter Infrastructure (AMI) technology. We are very pleased to be able to add this technology to our suite of products."
Leonard F. Graziano, Severn Trent Services’ President and CEO, says: "The proud employees of Severn Trent Metering Services have worked diligently to develop and advance the Smart-Meter technology from its infancy. Their efforts will broaden Elster’s leading portfolio of intelligent metering solutions."
The completion of the transaction is subject to competition clearance by the UK Office of Fair Trading.
For further inquiries, please contact:
Ian Stewart
Elster Metering Limited
130 Camford Way, Sundon Park
Luton, LU3 3AN
United Kingdom
Telephone: +44 (1582) 846400
Fax: +44 (1582) 583985
Lori Doppelt, Marketing Communications Manager
Severn Trent Services
Telephone: 215 997 3727
ldoppelt@severntrentservices.com
www.severntrentservices.com