VMPL
Surat (Gujarat) [India], April 23: Shish Industries Limited (SIL) is pleased to announce the signing of a significant long-term commercial trade agreement, with the USA-based entity Best Construction Products Inc. (BCP).
This agreement brings together SIL, a leading company specialising in the production and supply of Construction, Packaging & Thermal Insulation related Products, and BCP, a distinguished entity in the United States engaged in quality construction materials.
Under the terms of the agreement, SIL will supply a variety of agreed products crucial for construction purposes to BCP over a period of 5 years amounting to a minimum of USD 37.5 million (approx. Rs. 312 crores present value). The parties have agreed on dynamic pricing based on raw material pricings, actual freight charges, quality assurance and more. The agreement also outlines the minimum commitment purchase by BCP year on year and compensation of 3% for any shortage in that, given as advance deposit to SIL.
"We are thrilled to enter into this partnership with Best Construction Products inc." said Satishkumar Maniya, Chairman & Managing Director of SIL. "This agreement reflects our dedication to providing high-quality products in thermal insulations, vents etc. to clients globally and underscores our position as a trusted supplier in the industry. We are already exporting more than 65% of our products and this collaboration shall only increase it. We have acquired number of businesses and increased our production capacities in the last year. And this partnership validates our expansion plans, globally acceptable products and our strategies. We are thankful to Best Construction Products Inc. for this long-term partnership and trusting our Indian brand and capabilities."
On this Collaboration, BCP stated "We share Shish Industries enthusiasm for the collaboration. We are excited to partner with Shish Industries to import our procurement needs for construction industry products. This agreement aligns with our commitment to sourcing reliable and top-quality products and ensuring the highest standards of construction for our clients.
Shish Industries' subsidiary launched the world's 1st revolutionary packaging industry unifying platform www.inpackaging.com last month.
The company also declared its FY 2023-24 results last week while reporting robust growth with INR 88.38 crs consolidated income, up 25.67% Y-o-Y, and INR 8.04 crs. profit after tax, up 18.58%. Shish Industries is covered as part of the top 10 global companies by various research report organisations in respective product categories, validating the company's quality and global positioning.
About Shish Industries:
Shish Industries Limited through intense research in its field, brings innovations & customization solutions to global customers, driven by strong development capabilities. The company has shown great development since its incorporation. Various innovative developments have always provided the Company an edge over other industries in its field. Founded in 2012, Shish Industries Ltd. has become a trusted manufacturer & exporter of plastic corrugated sheets, PP boxes, FIBC Bags, PP/PE woven fabric, tarpaulin, and shipping packaging supplies. The company has its registered & corporate offices and various factories in Surat district, Gujarat.
For media inquiries, please contact:
Shish Industries Limited
99251 70407
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