Leading global commercial forging company, Bharat Forge Limited has said that it has formalized a significant supply agreement for long term co-operation with Rolls-Royce, a world leader in power systems for aerospace.
The agreement envisages supply of critical & high integrity forged and machined components for a range of aero engines including the flagship Trent engine.
"This award follows a period of collaboration over the last 18 months to define and secure the necessary level of stringent quality and process approvals. Both Companies consider this award to be a significant milestone to cement a strong and long-term relationship," the company informed in a filing to the Bombay Stock Exchange.
Commenting on the issue, Bharat Forge Chairman & Managing Director B.N. Kalyani said, "It is our strategic intent to play a significant role in global aerospace supply chain with Forged & Machined products and assemblies in future. This supply-chain partnership with Rolls-Royce is a momentous step towards achieving our stated goal of $ 100 million revenues from the aerospace sector."
Meanwhile, shares of the company were trading at Rs 802.05 apiece, up 1.19 per cent from the previous close at 10:28 hours on BSE.