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Satishkumar Maniya, Chairman & Managing Director and
Ramesh Kakadiya, Director & Co-founder, Shish Industries Limited
Surat, India - 23nd April, 2024 - 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 minimum USD 37.5 millions (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 last one 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 the 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.
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
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. 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 box, FIBC Bags, PP/PE woven fabric, tarpaulin, shipping packaging
supplies. Company has its registered & corporate offices and various
factories in Surat district, Gujarat.
For media inquiries, please contact:
Shish Industries Limited
99251 70407