Indo Asian Fusegear secures Rs 21 Crore Export Contract

Indo Asian Fusegear Ltd has announced that the Company has secured an order for the export of electrical equipment, used in the manufacture of lighting products, from Saudi National Lamp and Electrical Ltd, Saudi Arabia. The order is valued Rs 21 Crore. This is the first time when such large volume of export contract for the export of electrical equipment has been received by the Company from this Company.

The order consists of electrical equipment used in the manufacture of lighting products including HID lamps, CFLs and components of lighting products. This is the first order received by the Company from Saudi National Lamp and Electrical Ltd, Saudi Arabia.

Commenting on this, Mr. V P Mahendru, Chairman & MD, of the Company said, "Our exports turnover is increasing significantly. We hope to achieve a 50% growth p.a. in our export turnover. The order of this size signifies the acceptance of our efforts & quality products by the global market."

The Company has steadily increasing its share, in the highly competitive export market for lighting products & electric switchgear systems for over a decade by meeting global quality standards. Presently, the Company's products are available in more than 80 Countries across the globe including the SAARC nations, the European Union and United Kingdom.

Source : Equity Bulls

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