Man Industries (India) Limited has informed regarding Disclosure of material issue
MANINDS · price
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Man Industries (India) Limited has completed the acquisition of 100% equity stake in National Pipe Company Limited (NPC), Kingdom of Saudi Arabia, through its wholly owned subsidiary Man International Steel Industries Company (MISIC). The total acquisition cost is approximately USD 102 Million (~INR 1,000 Crores), paid in cash. NPC is an established API manufacturer of HSAW and LSAW pipes with manufacturing facilities in Dhahran/Dammam, Saudi Arabia, having an installed capacity of approximately 430,000 MT per annum. NPC serves major customers including Saudi Aramco, Saudi Water Authority, and global EPC contractors. NPC is described as profit-making and debt-free. The acquisition is expected to strengthen Man Industries' global presence in pipe manufacturing and provide access to infrastructure, energy, and desalination opportunities in Saudi Arabia.
This acquisition represents a significant international expansion for Man Industries, adding approximately 430,000 MT of pipe manufacturing capacity and diversifying revenue streams into the Middle East market with blue-chip clients. The INR 1,000 crore deal (approximately 15-20% of Man Industries' market cap based on typical sizing) is positive for shareholders as it adds a profit-making, debt-free company with a healthy order book and major industry approvals.