Steelcast enters into long term supply agreement with Caterpillar [22 Mar 2012]

By admin March 22, 2012 12:10 pm IST

Gujarat-based steel castings manufacturer Steelcast entered into a long term agreement with the US$ 60 billion Caterpillar. Under this agreement, Steelcast will set up dedicated manufacturing facility where steel casting products with specifications given by the US major will be made.
Elaborating on this new strategy adopted by the company, Mr. Chetan Tamboli, Chairman & MD of Steelcast Ltd, said, “A long term agreement with Caterpillar Inc gives us an assured off-take capability and access to supply high quality products to a global major. Through this agreement, we expect sales to Caterpillar to grow multi-fold from around Rs. 40 crore in 2010-11 to about Rs.150 crore in 2015. We will now look at entering into similar long term agreements with other global majors too.”

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