Tata Steel, through its UK subsidiary, has secured a long-term agreement to supply aerospace steels ( aero steel ) to Safran Group, the manufacturer of aircraft, rocket engines, aircraft equipment and propulsion systems. The five-year agreement gives Tata Steel responsibility for supplying all aspects of Safran’s aircraft-quality aero steel requirements worldwide, including re-melted steels, both direct to Safran Group companies and to its subcontractors, said Tata Steel in a press release on Wednesday. The initial value of the contract is over £9 million (about Rs 82 crore) per year, it added.
Last year, the company commissioned two new Vacuum Arc Re-melting (VAR) furnaces at Tata Steel’s Stocksbridge works in South Yorkshire and the opening last year of a second aerospace service centre in China. Mark Broxholme, Managing Director (Speciality Steels business), said the deal is a significant award for Tata Steel and continues long-term commercial and technical relationship with an important customer in this demanding market sector.
– Hindu Business Line
- Bharti Airtel to invest Rs 734 crore in Gabon
- How to Build a Savings Account on a Shoestring Budget