MAN Industries Acquires Saudi Pipe Maker NPC for USD 102 Million

MAN Industries India Limited has announced that its wholly owned Saudi subsidiary, MAN International Steel Industries Company (MISIC), has acquired 100% stake in National Pipe Company Limited (NPC) for USD 102 million (around Rs 1,000 crore).

NPC is an API-certified large-diameter carbon steel line pipe manufacturer based in Dhahran, Saudi Arabia, with an established order book from clients including Saudi Aramco. The company is debt-free and holds API 5L, API 2B and ISO 9001:2015 certifications.

According to MAN Industries, NPC has cash and liquid assets worth USD 83 million and a net worth of USD 158.63 million. The acquisition includes 100% of NPC’s operational assets, making it a revenue-generating business from day one.

The acquisition gives MAN Industries access to 430,000 MTPA of API-certified manufacturing capacity and strengthens its presence in Saudi Arabia’s infrastructure and energy sectors.

Commenting on the acquisition, Managing Director Nikhil Mansukhani said the transaction significantly accelerates the company’s expansion in the Saudi market and positions it to benefit from the region’s long-term infrastructure growth cycle.