Remsons Industries Limited has secured a significant business order worth over INR 300 crores from Stellantis N.V., North America for the supply of control cables, the company announced today in a regulatory filing to stock exchanges.
The Mumbai-based auto component manufacturer described the deal as one of the largest orders in the company's history. According to the filing, the contract covers supply of control cables for Stellantis Smart Cars, Jeep, and their three-wheeler segment.
Delivery schedules for the contract will commence from the next financial year onwards, with the entire order to be executed within a seven-year timeframe. The order includes standard terms related to quality, delivery schedule, and pricing as mutually agreed by both parties.
Remsons Industries Limited, established in 1971, operates in the automotive components sector with a focus on control cables, gear shifters, and other mechanical control systems. The company is listed on both the BSE (scrip code: 530919) and National Stock Exchange (symbol: REMSONSIND).
Stellantis N.V., formed in 2021 through the merger of Fiat Chrysler Automobiles and the PSA Group, is one of the world's largest automotive manufacturing corporations. The company owns several major brands including Jeep, Chrysler, Dodge, Ram, Fiat, Peugeot, and Citroën.
The regulatory filing confirmed that the promoter or promoter group companies do not have any interest in Stellantis, and the order does not fall within related party transactions.