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Indsur Global has tied up with Global Industrial Group (GIG) of Russia for long term supply of castings. The initial commitment is for order valued at S 10 mn, which will be supplied in next eighteen months. The supplies would commence from April 2015 onwards.
The contract was agreed upon and signed between Yaakov Denis, CEO, GIG Group and Amit Lodha, Director, Indsur Group, during former’s visit to India recently. It is important to note that prior to the arrangement, GIG Group was sourcing its supplies from China.
Commenting on the occasion, S.M. Lodha, Chairman, Indsur Group said, “We at Indsur have always believed in raising the bar when it comes to scale, quality and cost efficiency. In doing so, we have become a supplier of choice to marquee global companies. The tie-up with GIG Group is yet another step that proves our commitment to sustained value creation for our Stakeholders as well as for the nation. We are proud to advocate and Support the Hon. Prime Minister Shri Narendra Modi’s call for “Make in India” and are fully committed towards establishing India at the forefront of preferred sourcing destinations, globally.”
Speaking on the development, Yaakov Denis, CEO, GIG Group said, “We have always believed that India has the right potential to deliver cost efficient high quality Products. Our agreement with Indsur Group crystallizes our belief. We look forward to scaling our sourcing in bigger way in line with our long-term growth plans and a mutually beneficial relationship for each of us.”
Recently, Indsur had put up a state-of-art plant for making such infrastructure castings and is today a market leader not only in India but in overseas markets with significant presence as well.
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