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Both the parties did not disclose any numbers, in terms of investment and potential revenue generation for SAIL.
Raman, executive director, Salem Steel Plant, said the plant can now expand its market reach and further leverage the brand name of Salem Stainless.
M Lakshminaryanan, chairman of the Butterfly group, said for the purpose of their manufacturing, their input brand is Salem Stainless, as they want to ensure that only the best is made available to their customers.
Under the agreement, a compact a stainless steel kitchenware and tableware manufacturing unit will be set up within the Salem Steel Plant premises by LLM Appliances, the flagship unit of the Butterfly group, to produce 500 tonnes of quality stainless steel designer kitchenware products per annum.
