Man Industries (India) Limited has informed the Exchange about General Updates
MANINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Man Industries (India) Limited has completed the acquisition of 100% equity stake in National Pipe Company Limited (NPC) through its wholly owned subsidiary Man International Steel Industries Company (MISIC). The acquisition cost is approximately USD 102 Million (~INR 1,000 Crores), paid in cash. NPC is a Saudi Arabia-based manufacturer of HSAW and LSAW pipes with an installed capacity of 430,000 MT per annum. NPC serves major clients including Saudi Aramco, Saudi Water Authority, and global EPC contractors. NPC is described as profitable, debt-free, and has a healthy order book from reputed customers. The acquisition is in line with Man Industries' international expansion strategy to strengthen its global presence in the pipe manufacturing industry.
Positive for shareholders as the acquisition expands Man Industries' manufacturing capacity and provides access to the Saudi Arabian infrastructure, energy, and desalination markets, while adding established clients like Saudi Aramco to its portfolio.