Sunday, December 9, 2007

MSL to buy Romania-based seamless plant

BS Reporter / Mumbai December 06, 2007

Maharashtra Seamless (MSL) - a flagship company of the Rs 3,000 crore turnover DP Jindal Group - announced that the parent company is acquiring Romania-based seamless plant with a capacity of 2,00,000 TPA.

The acquisition is expected to surge at further heights in view of increased prices of oil and also increasing demand for energy requirements. This would enable the group to capture the maximum demand potential going forward and would lead to substantial growth in the businesses of MSL.

The group is well diversified into manufacturing of Seamless Pipes, ERW Pipes, Wind Power Generation, Offshore Oil & Gas Drilling and projects exports. The group is also having a Joint Venture with Tenaris, the largest manufacturer of Seamless Pipes in the world and also having a marketing collaboration with Noble Drilling, US, the second largest drilling company of the world, for Indian operations.

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