Maharashtra Seamless bags order worth USD 40 mn

Mumbai, Dec 14 (UNI) Maharashtra Seamless, the flagship company of DP Jindal Group, said today that it has secured export orders worth USD 40 million (over Rs 157 crore) from the US as well as Latin America.

The Company will supply seamless pipes to companies for exploration and drilling activities and is also in talks with global oil majors such as Shell and Occidental for further market penetration, Maharashtra Seamless stated in a filling to the Bombay Stock Exchange.

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

Recently, US authorities have initiated anti-dumping duty investigation against Chinese pipes 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 having a capacity of 2,00,000 tonne a year.

UNI