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Sweden’s Dometic Group awards L&T Technology Services with global services deal

L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure play engineering services company, today 24th of February announced that it has been awarded a multi-year engineering services engagement from Dometic Group, a global leader in branded solutions in the mobile living space.
As part of the engagement, LTTS opened a dedicated Global Engineering Center (GEC) in Chennai, to complement Dometic’s product engineering roadmap. The GEC will bring in capabilities to design and develop best in class products for Dometic’s global clientele. The center will support mechanical, embedded and connectivity areas across product lines, technologies and regions.
Dometic has also partnered with LTTS for transformation of their Product Lifecycle and to set up a Center of Excellence for testing & validation of products. The core objective of LTTS’ engineering services proposition is to accelerate Dometic’s time to market and support its exciting product roadmap.
Commenting on the development, Dr. Anton Lundqvist, CTO of Dometic said that, their ambitious growth plan includes new product and market areas, more focus on aftermarket and closer co-operation with their current and new supply base. This will require a new and more dynamic way of working to reduce their time to market. To meet the new market demands, they are pleased to partner with LTTS as they aim to leverage from the company’s globally acclaimed engineering services and multi-vertical expertise.
Global Head of Industrial and Consumer Products at L&T Technology Services, Seema Ghanekar said that the application of digital technologies in engineering is on the rise, touching the lives of millions of consumers. LTTS has a robust industrial products and consumer goods practice that includes product engineering, design & development and customized engineering solutions, and they are excited to partner with Dometic and create delightful immersive experiences for consumers.
During the day, in over 314 trades the total number of shares traded was 2049.  During the day the stock hit a peak of Rs. 1751 and intraday low of 1726.45. The total revenue for one day was Rs. 3558597.