Elitecon International Secures $60M Product Supply Agreement with South Africa
What happened
Elitecon International has signed a product supply framework agreement with South Africa-based World Class 77. The contract targets the South African market and has a programme value of up to $60 million. The agreement covers products manufactured at Elitecon's Nashik facility and is set to run for the next 12 months.
From indiatimes.com
Why it matters
The contract adds South Africa to Elitecon International's overseas business portfolio. The company stated that the programme is expected to increase the utilization of its Nashik manufacturing facility. Furthermore, Elitecon anticipates the programme could require up to 200 additional personnel at the Nashik facility and generate additional business for local vendors and supply chain partners.
From indiatimes.com
Who's involved
- South AfricaThe target market and partner country for the product supply agreement.
- NashikThe city where the products are manufactured for the international contract.
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The entities involved
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South Africa
country in southern Africa
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