India-based MAN Industries has completed the acquisition of 100pct equity stake in Saudi Arabia’s National Pipe Company Limited (NPC) through its wholly owned Saudi subsidiary Man International Steel Industries Company (MISIC). The acquisition was completed at a total cost of around USD 102 mln.
NPC is an established Saudi manufacturer of HSAW and LSAW pipes with integrated manufacturing facilities located in Dammam and Dhahran. The company has installed pipe production capacity of around 430,000 tons per year and supplies products for oil and gas pipelines, water transmission, infrastructure, and industrial projects.
Prior to the acquisition, NPC operated as a joint venture between Saudi investors and Japan’s Nippon Steel.
According to MAN Industries, NPC serves major regional customers including Saudi Aramco, Saudi Water Authority (SWA), Saudi Water Partnership Company (SWPC), Water Transmission & Technologies Co. (WTTCO), Kuwait Oil Company (KOC), and Qatar Petroleum, in addition to several international EPC contractors.
The company stated that NPC is a debt-free and profitable business with ongoing operations and an existing order book, including contracts from Saudi Aramco and other regional clients.
MAN Industries added that the acquisition supports its international expansion strategy and is expected to strengthen its presence in Saudi Arabia’s infrastructure, energy, desalination, and industrial sectors. The company also plans to add external and internal coating facilities at the plant to serve growing demand for coated pipeline solutions in the Kingdom.
Man Industries manufactures and exports large-diameter carbon steel line pipes for high-pressure transmission of gas, crude oil, petrochemicals, and potable water. Its facilities have a combined annual capacity of 1 mln tons of LSAW and HSAW pipes, and 0.2 mln tons of ERW pipes.