core sector communique

 

MAN Industries bags order of Rs 950 crore from Kuwait

 

           

Mumbai, March 08, 2010: MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing companies in the country, announced securing a prestigious order worth Rs 950 crore from Kuwait for supply of 170000 tons of Large Diameter pipes in both LSAW as well as HSAW segments.

 

The latest international/ domestic order has been bagged by the company in the face of stiff international bidding.

 

The order has to be executed in the current financial year.

 

Commenting on the orders Mr. J. C. Mansukhani, Vice Chairman and Managing Director, MAN Industries (India) Ltd said, "Winning such a huge order is a great matter of prestige for the company. It is a reinforcement of the promising prospects this year of the infrastructure sector. We are confident that the company would be able to execute the order on schedule.”

 

The company is in the bidding stage for many projects, both in the International and domestic market for supplying pipes worth USD one billion.

 

With the latest order of Rs 950 crore, MAN Industries (India) Ltd's total order book stands at about Rs 2000 crores as on date.

 

With the additional 3rd HSAW production line commissioned at Anjar in Gujarat, the company’s manufacturing capacity today stands at one million tons, divided equally between HSAW and LSAW. This is the first ever mill in India which can produce pipes up to 30 mm thickness in X-70 grade steel.

 

 

About MAN Group

 

MAN Industries (India) Ltd., an ISO 9001 / 14001 / 18001 accredited Company, is a leading manufacturer of SAW Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum.

 

The Company is a part of the well diversified MAN Group, growing under the able leadership of Shri. R. C. Mansukhani and Shri J C Mansukhani starting as an Aluminum Extruder in 1988, MAN Industries has now become a large player in SAW Pipes. It is also a significant sized player in Spirally Welded Pipes and Coating Systems. MAN Industries operations are spread across globally with offices in U.K. and U.A.E. besides India.

 

The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with NASDAQ Dubai Limited.