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Ramkrishna Forgings Expands its Footprint into the South American Market with INR 74 Crores Contract Win

Posted On : 2023-08-30 12:32:11( TIMEZONE : IST )

Ramkrishna Forgings Expands its Footprint into the South American Market with INR 74 Crores Contract Win

Ramkrishna Forgings Limited ("the Company"), one of the leading suppliers of rolled, forged, and machined products is pleased to announce a significant milestone as it penetrates further into the South American market. Strengthening its foothold in the region, the Company has been awarded a substantial business contract worth 8.25 Million Euros (approx. INR 73.65 Crores) by a prominent European OEM & Tier 1 supplier. This momentous agreement underscores the Company's commitment to excellence and innovation in the automotive components space.

Under the terms of this agreement, the Company will be supplying front and rear axle components for the next 5 (five) years. This contract reflects a commitment of 1.65 Million Euros per year, a testament to the enduring partnership between the Company and these industry leaders.

This contract underscores the Company's unwavering dedication to technological advancement, precision engineering, and unparalleled customer service. This achievement not only demonstrates the Company's exceptional product quality and reliability but also showcases the commitment to establishing itself as a key player in the South American automotive landscape.

Mr. Lalit Kumar Khetan, Whole Time Director & CFO, Ramkrishna Forgings Limited said, "This contract represents a significant step in our journey to expand and diversify our operations in the South American market. We are honoured to be chosen for this partnership which signifies not only our prowess in providing high-quality components but also solidifies our commitment to fostering innovation and excellence. This partnership exemplifies our dedication to enhance mobility solutions and driving impactful growth in the dynamic Brazilian market."

With this partnership, the Company anticipates not only solidifying its presence in South America but also continuing its tradition of delivering high-quality automotive components that drive innovation and performance.

Source : Equity Bulls


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