AMSC Selected As Preferred Supplier For Inox's 2MW Product Line - Quick Facts

(RTTNews) - AMSC (AMSC) announced a long-term supply contract (Supply Contract) with Inox. AMSC will provide Inox with electrical control systems for Inox's entire 2MW product line. Under a separate agreement, Inox will be allowed to internally manufacture a limited portion of the ECS requirements for its 2MW product line as a second source based on AMSC's technology.

The aggregate value of the agreements is approximately $210 million over the next three to four years. Once the specified deliveries under the Supply Contract are completed, further revenues are expected for at least an additional three year period during which AMSC will provide Inox with the majority of its 2MW ECS requirements under a preferred supplier arrangement.

Inox Wind Limited is part of the Inox Group of Companies. Inox Group is a professionally managed business group, with interests in diverse businesses including Industrial Gases, Refrigerants, Engineering Plastics, Chemicals, Carbon Credits, Cryogenic Engineering, Renewable Energy and Entertainment.