Man Industries Completes US$ 102M Acquisition of Saudi Pipe Manufacturer NPC

Man Industries (India) Ltd has informed the stock exchanges that the Board of Directors at its meeting held on Thursday, May 21, 2026, considered and took note of the completion of the transaction in relation to the acquisition of a 100 percent equity stake in National Pipe Co Ltd (NPC), Kingdom of Saudi Arabia. The acquisition was completed at a total cost of approx US$ 102 million (~INR 1,000 crore). The transaction has been carried out by Man International Steel Industries Company (MISIC), a wholly owned subsidiary of the company incorporated in the Kingdom of Saudi Arabia.

NPC is one of the established API manufacturers of HSAW and LSAW pipes in the Kingdom of Saudi Arabia. It caters to oil & gas pipelines, water transmission, infrastructure, and industrial projects, and serves reputed customers including Saudi Aramco, Saudi Water Authority (SWA), Saudi Water Partnership Company (SWPC), Water Transmission & Technologies Co (WTTCO), KOC (Kuwait), Qatar Petroleum, and leading global EPC contractors including McDermott, L&T, SAIPEM, Subsea7, Hyundai E&C, and others. 

NPC is a profit-making and debt free, financially stable organization with ongoing business operations and a healthy order book comprising orders in hand from Aramco and other reputed customers. It possesses all major industry approvals, qualifications, and registrations required for execution of projects for key regional and international clients. It also maintains adequate working capital and cash balances to support its ongoing operations, project execution requirements, and future business growth. 

According to the company, the acquisition is in line with its international expansion strategy and is expected to strengthen the company’s global presence in the pipe manufacturing industry. The acquisition is expected to provide access to infrastructure, energy, desalination, and industrial opportunities in the Kingdom of Saudi Arabia and strengthen the company’s Middle East and international operations. NPC has an installed manufacturing capacity of approximately 430,000 MT per annum. 

Going forward, the facility will also have Coating Mill with External & Internal Coating Plant to serve the Kingdom’s growing demand for coated pipeline solutions. 

For more information: www.mangroup.com