Tamboli Industries has announced that its wholly owned subsidiary, Tamboli Castings Industries, has secured a component development and long-term supply programme from a multinational Fortune 100 original equipment manufacturer. The customer is a global leader in off-highway equipment and advanced mobility solutions, but its identity has not been disclosed because of confidentiality and commercial sensitivity.

The programme covers the development and phased supply of more than 50 precision-engineered components for the manufacturer’s global operations. Tamboli Castings was selected following a competitive international evaluation involving precision component manufacturers from emerging markets. The assessment covered the subsidiary’s engineering and manufacturing capabilities, quality systems, supply chain performance and experience in supporting global original equipment manufacturer programmes.

Initial development orders have already been received, while further orders are expected to be released in successive phases over the coming months. Development work will begin immediately, followed by customer approvals and a phased transition to commercial production in line with the customer’s global sourcing plans.

The entire component portfolio is expected to transition over approximately 2 to 3 years, subject to development progress, customer approvals and business requirements. Following a full transition, the programme has the potential to generate recurring annual revenue of approximately €200 mn. The company said the realisation of this potential would depend on the pace of approvals, the transition of business and ongoing customer requirements.

The programme is international in scope and involves development, customer qualification and phased commercial production. The company said the initial development orders do not represent the full value of the potential purchase programme, with further releases dependent on approvals and customer requirements. It also confirmed that the arrangement is not a related-party transaction and that there is no promoter or promoter-group interest in the programme.