Man Industries secures new orders worth Rs 600 crore

Man Industries India Ltd has announced that the Company has secured fresh orders worth Rs 600 Crore from prestigious Companies in USA, Nigeria etc which shall be used by the buyers to build high pressure cross country gas transmission pipeline. The fresh orders from USA is significant event looking at the potentially large market for pipes in US. The Company has also pitched for large tenders in US and Latin America. The current order book position of the Company including the fresh orders stands at Rs 1600 Crores approximately.

The Company also got approval for its facilities from M/s Gaz Prom of Russia which is one of the leading players in Oil and Gas industry in Europe.

Commenting on the developments, Mr R C Mansukhani, Chairman of the Company said "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 ". Mr R C Mansukhani further pointed out that the identification of new markets like USA with huge potential and prestigious approvals on the manufacturing facilities will strengthen the future business prospects of the Company.

Source : Equity Bulls

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