Multilaser Industrial SA of Brazil has announced a deal to manufacture there electronic security devices designed by Hangzhou Hikvision Digital Technology Co. Ltd of China.
The deal covers the distribution and sale in Brazil of basic security cameras and data storage devices, Multilaser told the Brazilian stock market in writing last week.
The company says it expects the arrangement to be fully functional in the third quarter of this year.
Multilaser is investing 6 million reals (about US$1.3 million) in equipment for manufacturing the Hikvision devices, with a view to boosting its revenue from the Brazilian market for security technology, its announcement says.
Separately, a report by Reuters news agency quotes Multilaser Product Vice-president André Poroger as saying that, to begin with, Chinese state-owned Hikvision will send parts to be assembled at his company’s factory in the northern Brazilian city of Manaus.