2007-03-30 Business Line Man Industries Bags Order From Mid Continent of US
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Business Daily from THE HINDU group of publications Friday, Mar 30, 2007 ePaper
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Corporate - New Business
Man Ind bags Rs 1,000-cr order fromMidcontinent of US
Our Bureau
BIG DEALS: Mr R.C. Mansukhani (left), Chairman, MAN Industries (India) Ltd, andMr Somnath Roy, Chief Executive, Projects, at press conference in Mumbai on
Thursday. - Shashi Ashiwal
Mumbai March 29 Man Industries (India) Ltd, a manufacturer
of pipes, has bagged an order worth Rs 1,000 crore ($225million) from the US-based Midcontinent Express Pipeline LLC.
The company will manufacture and supply 257 miles of 42-inchdiameter line pipes with external and internal anti-corrosion
coating systems.
"The order would be completed in a year's time," said Mr R.C.
Mansukhani, Chairman, Man Industries.
With this order, the company's total order book now stands at
Rs 2,200 crore
Mr Mansukhani added that the company was looking at the
possibility of setting up its first overseas manufacturing unit in
the US, for which it is conducting a feasibility report.
"The plant may be a joint venture with a US-based steel
company. We will be able to speak on the details aboutinvestment and size of the plant in a month's time," he said.
More production lines
The company is currently adding three more production lines to
its facility in Anjar, Gujarat, which will be commissioned in thefirst half of the coming financial year.
Man Industries is also planning to enhance its capacity by 25-30 per cent by setting up three additional mills for spiral pipes
with an investment of Rs 70-75 crore.
"This will take our production capacity to 2,500 km of pipesfrom the current 2,000 km," said Mr Mangesh Nabar, Senior,
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Page 1 of 2The Hindu Business Line : Man Ind bags Rs 1,000-cr order from Midcontinent of US
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General Manager, Marketing, Man Industries.
The company is expecting to close this fiscal with a turnover of Rs 1,200 crore.
The shares of the company rose 7.29 per cent to Rs 199.50 onthe BSE.
More Stories on : New Business | Steel
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Page 2 of 2The Hindu Business Line : Man Ind bags Rs 1,000-cr order from Midcontinent of US
6/4/2010http://www.thehindubusinessline.com/2007/03/30/stories/2007033001600200.htm