Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board ....
MANINDS · price
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Man Industries' wholly owned subsidiary Man International Steel Industries Company (MISIC) has completed acquisition of 100% equity stake in National Pipe Company Limited (NPC) based in the Kingdom of Saudi Arabia. The total acquisition cost is USD 102 million (~INR 1,000 Crores), paid in cash. NPC is an established API manufacturer of HSAW and LSAW pipes with installed manufacturing capacity of approximately 430,000 MT per annum. The company serves major clients including Saudi Aramco, Saudi Water Authority, KOC (Kuwait), Qatar Petroleum, and global EPC contractors like McDermott, L&T, SAIPEM, and Subsea7. NPC is described as profit-making, debt-free, and financially stable with a healthy order book. The acquisition is expected to strengthen Man Industries' global presence in pipe manufacturing and provide access to Saudi Arabia's infrastructure, energy, desalination, and industrial opportunities.
This acquisition represents a significant international expansion for Man Industries, nearly doubling its manufacturing footprint with 430,000 MT capacity addition. The INR 1,000 crore deal provides immediate access to Middle East energy and infrastructure markets with established customer relationships, likely positive for the stock given the strategic value and existing profitability of the acquired entity.