Man Industries bags Rs 1,000 cr order from US co
Leading pipe manufacturer, Man Industries India has bagged Rs 1,000 crore (USD 225 million) order from a US-based company, taking its new order book position to Rs 2,200 crore.
By PTI |
MUMBAI: Leading pipe manufacturer, Man Industries India has bagged Rs 1,000 crore (USD 225 million) order from a US-based company, taking its new order book position to Rs 2,200 crore.
The company would manufacture and supply 257 miles of 42 inch diameter pipes with external and internal anti-corrosion coating systems to the US firm, Man Industries informed the BSE.
However, Man Industries did not disclose the name of the client.
"This is the single largest order received by any Indian pipe manufacturing company from the US and is also one of the largest orders made by a single customer of an engineering company from USA in the recent past," Man Industries said.
Recently, the company has also received vendor approvals from some more major clients of USA and Malaysia.
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The company is already in advanced stage of adding three more production lines at its Anjar complex which would be commissioned in the first half of the coming financial year.In November last year, the company had approved an expansion project in its Anjar division to increase the installed capacity for pipes by 200,000 MT per annum.
In October 2006, Man Industries had bagged orders worth Rs 600 crore from various companies in the US and Nigeria.
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