Azad Engineering signs multiyear supply agreement with Italys Nuovo Pignone Srl [Video]

Azad Engineering Ltd announced on Wednesday that it has entered into a long-term agreement with Nuovo Pignone Srl for the supply of components for the oil and gas sector.

The machine component manufacturer has signed a long-term Strategic Supplier Agreement (SSA) with Nuovo Pignone Srl, a part of Baker Hughes’ Industrial & Energy Technology business, Azad Engineering informed the stock exchanges in a filing on March 6.

The agreement pertains to the supply of complex and critical components for the oil and gas sector.

The Strategic Supplier Agreement signed with Florence-headquartered Nuovo Pignone Srl promises significant business value for five years for Azad Engineering.

Further, the aforementioned contract is not a related party transaction, the company stated in an exchange notification on March 6, 2024.

Azad Engineeringis a leading manufacturer of qualified product lines for global original equipment manufacturers (OEMs). The company caters to OEMs in the energy, aerospace and defence, …