Man Industries bags Rs 600 cr orders
Man Industries India Ltd, a manufacturer of saw pipes on Monday said it has secured orders worth Rs 600 crore from US-based and Nigerian companies to build high pressure cross country gas transmission pipeline.
By PTI |
MUMBAI: Man Industries India Ltd, a manufacturer of saw pipes on Monday said it has secured orders worth Rs 600 crore from US-based and Nigerian companies to build high pressure cross country gas transmission pipeline.
The fresh orders from US is significant, given the potentially large market for pipes in US and the company has also pitched for large tenders in US and Latin America, Man Industries informed the Bombay Stock Exchange.
"It is highly encouraging to expand our market across the globe and the orders from countries like USA and Nigeria have established our proven track record for delivering quality products around the world. It's our privilege to associate with international conglomerates to share our expertise and to maintain our leadership position in the Pipeline industry," Man Industries Chairman R C Mansukhani said.
The identification of new markets like USA with huge potential and prestigious approvals on the manufacturing facilities would strengthen the future business prospects of the company, Mansukhani added.
The company also got approval for its facilities from Russia-based Gaz Prom, a leading player in oil and gas industry in Europe.
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The current order book position of the company, including the fresh orders, stands at around Rs 1600 crore, it added.Shares of the company were trading at Rs 191.10, up 14.40 per cent at the BSE.
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