Pakistan’s leading Automation Control and System Integrator, Avanceon, has signed a distributor partnership agreement with Schweitzer Electric Laboratories (SEL) Middle East FZCO – one of the world’s leading manufacturers of digital products and systems that protect power grids.
This was disclosed by the company in a notification to the Pakistan Stock Exchange.
According to the notification, this agreement was signed on March 05, 2019 at SEL Middle East FZCO offices in Dubai, UAE. Nasir Ali, Senior Business Manager for Product Solutions and Jassim Al Hamad, Director at SEL signed the partnership agreement. The signing was attended by the top management from both companies.
“With the help of Avanceon’s expertise within the automation and control sector and SEL’s innovative and reliable products and systems, the partners aim to provide true value to their industrial sector clients in Pakistan by improving reliability and minimizing downtime,” read the notification.
SEL serves electric power utilities and industrial companies worldwide through design, manufacture, supply, and support of product and services for power system protection, power control automation for sub-stations, and monitoring. SEL technology prevents blackouts and enables customers to improve power system reliability, safety, and costs. The company is also a pioneer in the digital protective relay space.
It is a 100 percent employee-owned company headquartered in Pullman, Washington. SEL has manufactured products in the United States since 1984 and now serves customers worldwide.
Moreover, Avanceon is looking to tap into the growing demand for intelligent industrial solutions. This agreement will officially mark Avanceon’s entry into the Grid Automation space within the industrial sector in Pakistan.
Avanceon is an industrial automation consultation and system integration entity in Pakistan, Qatar, UAE, KSA, and the United States.
At the time of filing this report, Avanceon’s shares at the bourse were trading at Rs. 64.74, up by Rs. 1.13 or 1.78% with a turnover of 160,000 shares on Tuesday.