Cyan Holdings Gets First Indian Wireless Metering Order

16th Jun 2010 07:57

LONDON (Dow Jones)--Semiconductor company Cyan Holdings PLC (CYAN.LN) said Wednesday it has received its first order for wireless monitoring of electricity meters in India with a major meter manufacturer. The firm said the initial order for 10,000 units is one of the smallest of several tenders that it understands are currently open in the Indian market. It didn't provide any financial details and didn't name the meter firm it has won the business with but said it has been working with a number of established meter manufacturers in India since early 2009 in anticipation of an increasing demand for wireless meter reading and monitoring solutions from utility companies. Its Indian partner Future Electronics secured the order with the major meter firm on its behalf. Cyan's products are in the tender process for business with the same client and others. It said the tenders range in size up to 100,000 units, several of which are expected to require installation this year. Cyan Holdings said the tenders are necessary to attack a market which it believes will run to multi-million annual installation of both new and replacement meters. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; [email protected] (END) Dow Jones Newswires June 16, 2010 02:57 ET (06:57 GMT)