(Yicai Global) July 30 -- GoldCard Smart Group has agreed a EUR4.5 million (USD3.9 million) distribution deal with a sales agency in South Korea, marking the leading Chinese intelligent gas meter manufacturer's entry into the market.
GoldCard unit Tancy Instrument Group has inked a three-year supply agreement with Metrekor, the Hangzhou-based firm said in a recent statement, adding that it aims to boost the market share of its products and improve its brand image overseas through the deal.
As the Chinese company's exclusive sales agent in the country, Metrekor will not sell any similar products from GoldCard competitors such as roots and turbine flowmeters.
Metrekor operates a comprehensive distribution network in the North Asian nation. The Cheongju-based firm sells 2,000 to 3,000 sets of gas meters every year, accounting for more than one-fifth of the total national sales.
GoldCard has recently upped its efforts to expand into overseas markets, securing an import deal to Peru late last year.
Editor: William Clegg