Maharashtra Seamless bags $40 mn export orders

Maharashtra Seamless bags $40 mn export orders

Mumbai: Maharashtra Seamless Ltd (MSL), the flagship company of DP Jindal Group, has informed that it has secured export orders worth $40 million (Rs157 crore) from the US as well as Latin America and is in talks with global oil majors to penetrate in the international market.

The company will supply seamless pipes to the companies for exploration and drilling activities and is also in talks with global oil majors like Shell and Occidental for further market penetration, said MSL in a filling to the Bombay Stock Exchange.

To meet the customer requirements and to support the export functions, the seamless steel pipes maker, MSL has opened export branches in the US, Canada and Latin America.

Recently, US authorities have initiated anti-dumping duty investigation against Chinese pipe and have imposed preliminary countervailing duty, which would pave way for better market share for Indian and other players in the US, the company said.

Earlier this month, Maharashtra Seamless said it is all set to acquire a seamless plant in Romania with a capacity of 2,00,000 tonne per year.