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Stock Report
Ramkrishna Forgings strengthens North American presence through $13.65 Million Annual Business Deal for Rear Axle and Transmission Components
Posted On : 2023-08-14 09:54:56( TIMEZONE : IST )
Ramkrishna Forgings Limited ("Company"), one of the leading suppliers of rolled, forged, and machined products has announced its latest accomplishment in successfully securing a substantial business contract valued at $13.65 Million per year for supplying Rear Axle and Transmission Components. This significant achievement marks a substantial step towards bolstering the company's growth portfolio within the North American region.
The awarded contract pertains to the production and supply of Rear Axle and Transmission Components for Class 5, 6, and 7 vehicles. This latest endeavor reflects the company's unwavering commitment to delivering high-quality components that contribute to the optimal performance of vehicles in this critical market segment.
With this accomplishment, the company is strategically expanding its footprint in North America and serves as a pivotal opportunity to strengthen its position within the Light Vehicle sector. The continuous growth trajectory showcased by this substantial business contract underscores the Company's dedication to meeting and exceeding the demands of the North American market. This achievement not only solidifies its position as a key player in the industry but also demonstrates its ability to forge strong partnerships and secure meaningful business ventures.
Commenting on the acquisition Mr. Lalit Khetan, Whole Time Director & CFO, Ramkrishna Forgings Limited said, "This significant business award is a testament to the company's commitment to excellence and our strong foothold in the North American market. As we extend our presence in the Class 5, 6 and 7 vehicle segments, we are excited about the opportunities this partnership brings to further strengthen our position and also, significantly bolster our presence in the Light Vehicle sector. The new business not only underscores our focus on meeting the evolving needs of the market but also highlights our unwavering dedication to delivering cutting-edge solutions that drive the industry forward."
