We are delighted to announce that Cavotec China has won the Excellent Supplier Award from infrastructure equipment manufacturer Epiroc, one of our key customers. The award is a tribute to the commitment of our colleagues in Shanghai and throughout Cavotec Group to creating a strong partnership with Epiroc China and helping Epiroc to improve its position on the highly competitive Chinese market.
Cavotec has provided mobile power supply solutions for Epiroc more than 30 years. Since 2020, we have supported Epiroc execute its Best Cost Country Sourcing strategy, which is based on four pillars: Sustainability, Quality, Delivery Performance, and Flexibility and Cost.
To help Epiroc China improve its performance in all four pillars and increase competitiveness, we have successfully reduced the lead time of our products by 50%, created competitive pricing, increased the supply of locally produced cable reel parts, and taken extra steps to ensure our customer is fully satisfied.