Shanthi Gears signs pact with GE

Shanthi Gears Ltd has informed that the company has entered into a memorandum of agreement with General Electric Company through its GE Transportation - Aircraft Engines Business Component (GET), a New York Corporation for the manufacture of speciality marine gear boxes for certain critical applications.

The announcement further said that the company has also entered into a supply agreement with Atlas Copco Airpower NV, Belgium, for the manufacture and supply of high precision hardened and ground gears as OE for their global requirements.

Consequently, the company has already opened an office at Moenchengladbach, Germany, in order to extend better service and support and to enhance the business from the European market. When contacted for further information, the company officials were unavailable for comments.

Crisil has since accorded "P1+" rating (Highest) for its Rs 10 crore short-term debt programme.