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Ramkrishna Forgings Ltd has secured a contract worth $220 million to penetrate the North American market.
As per the company’s statement, the contract spans over a decade and the company forays into a new vertical within the forging sector, focusing on supplying Tier 1 customers in the light vehicle segment across North America.
Lalit Kumar Khetan, CFO, Ramkrishna Forgings, said, “Securing this substantial contract is a testament to our relentless pursuit of excellence, customer-first approach and our dedication to delivering exceptional products and services. We are honored to collaborate with our esteemed Tier 1 customers and are fully committed to delivering superior quality forgings that drive value and innovation in the North American light vehicle segment.”
“With this, the company is poised to further strengthen its foothold in the automotive forging market while continuing to explore avenues for growth and expansion,” Khetan added.
Ramkrishna Forgings stock rose by 2.53 per cent on the NSE, trading at ₹765.15 as of 11.22 am on Tuesday.
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