Florence, Italy : Azad Engineering has successfully secured a Long-Term Strategic Supplier Agreement (SSA) with Nuovo Pignone Srl, a prominent entity within Baker Hughes’ Industrial & Energy Technology (IET) division, based in Florence, Italy, Europe. This agreement signifies a significant milestone for Azad Engineering, as it entails a mutually beneficial partnership extending over a period of five years. Under this agreement, Azad Engineering will provide high-complexity and critical components tailored for the Oil & Gas sector. This strategic alliance promises to generate substantial business value for both parties involved, reinforcing Azad Engineering’s position as a trusted and reliable partner in the global energy industry.

While the exact size of the agreement remains undisclosed, there is no shareholding in the entity with whom the agreement is executed. Furthermore, the agreement does not entail special rights such as the right to appoint directors or first right to share subscription in case of share issuance. Additionally, there is no existing relationship with the promoter/promoter group/group companies, and the transaction is not classified as a related party transaction. Overall, this agreement signifies a significant step forward for Azad Engineering in expanding its presence in the global energy sector.


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