Man Industries secures new order worth Rs 1000 Crores from USA

Man Industries India Ltd has announced that the Company has recently bagged a prestigious order amounting to approximately USD 225 Million from USA. The Company will manufacture and supply 257 Miles of 42 Inch Diameter LSAW and HSAW Line Pipes with External and Internal Anti-Corrosion Coating Systems.

This is the single largest order received by any Indian Pipe Manufacturing Company from the United States and is also one of the largest orders made by a single customer of an engineering Company from USA in the recent past.

With this new order the order book position will stand at Rs 2200 crores.

The Company is already in advanced stage of adding three more production lines at its Anjar complex which will be commissioned in the first half of the coming financial year.

Recently, the Company has also received vendor approvals from some more major clients of USA and Malaysia.

Source : Equity Bulls

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