Itron Inc., the largest U.S.-based maker of water meters, won a supply contract from the biggest Australian water utility to replace meters for Sydney Water’s 4.6 million customers.
Itron, based in Liberty Lake, Washington, said in a statement that the company began the three-year installation of high-efficiency meters yesterday. No terms were disclosed.
Itron shares have gained 16 percent this year.
On June 29, the U.K. investment company Melrose Plc agreed to buy Elster Group SE for $2.3 billion to access gas- and power-meters for advanced electricity grids.