Prince Pipes jumps on technical collaboration with Tooling Holland

Prince Pipes and Fittings surged 12.07% to Rs 137 after the company announced a technical collaboration with Tooling Holland BV to strengthen technical competence and enhance operational efficiencies.

Tooling Holland BV is a privately held company with over 30 years of experience in the development and production of injection moulds. The company specializes in the manufacture and exports of moulds for fittings (16-1000mm), crate and container moulds, thin wall packaging moulds and PET preform moulds. Tooling Holland exports products to worldwide operating major fitting- and pipe producers.

This association will enable Prince Pipes to draw upon Tooling Holland's technical expertise and deep knowledge, build skills at par with international standards, significantly enhance internal operational efficiencies, optimize production costs.

Commenting on the collaboration Parag Chheda, executive director of Prince Pipes and Fittings, said, "We are excited to announce our collaboration with Tooling Holland BV as they bring with them tremendous expertise in plastic mould manufacturing. This alliance provides great impetus to our growth plans and our firm commitment to build and offer superior products, aligned to global standards and at competitive costs. They are also pioneers in critical technologies which will help us build our competitive edge.

We see huge potential in collaborating with Chris Bus (CEO, Tooling Holland) and his team, as partners, not only in terms of upgrading our own technical know-how but also to build productivity improvements, leverage their strong inclination towards research & innovation right from designing to mould manufacturing aimed at offering a great product.

Prince Pipes and Fittings is an integrated piping solutions & multi polymer manufacturer.

The company's net profit slumped 57.6% to Rs 11.25 crore on a 20.4% decline in net sales to Rs 302.48 crore in Q1 FY21 over Q1 FY20.

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