M&A
Man Industries acquires Saudi Arabia’s National Pipe Company for $102-M
BSE Announcement Business Line
Publicly listed Man Industries (India), via its wholly-owned subsidiary Man International Steel Industries Company, has completed the acquisition of 100% stake in the Saudi Arabia-based National Pipe Company for USD 102 million.Founded in 1978, National Pipe Company provides pipeline solutions for the oil and gas, water transmission, infrastructure, and industrial sectors. The company maintains an annual manufacturing capacity of approximately 430,000 metric tonnes.Man Industries is a manufacturer and exporter of large-diameter carbon steel pipes and anti-corrosion coating systems used in high-pressure oil, gas, water, and petrochemical transmission. It plans to leverage the facility to enhance its presence in Middle Eastern and international markets.
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