Welspun Corp Ltd., the flagship Company of the $ 3 billion Welspun Group and the 2nd largest line pipe company in the World (Source: Financial Times, UK) has won pipe orders worth Rs. 1,182 Crore (approx 155 KMT) largely from international clients. These new orders are likely to be executed over a period of one year.
With the addition of these orders, the current order book of the company stands at Rs. 6,153 Crore @ Rs. 45.50/USD (approx 932 KMT for pipes and external plate orders of 40 KMT) without excluding the orders being executed in Q4 FY 2011.
Commenting on the order, Mr. B.K. Goenka, Chairman of Welspun Corp said, "There is a positive pricing environment for oil and gas. We are visualizing a good traction and signs of improved demand. The Company shall continue to open newer avenues and deliver superior customer value and sustain leadership position in the world markets."
About Welspun Corp Ltd. (WCL) www.welspuncorp.com
Welspun Corp (www.welspuncorp.com) is a one-stop service provider offering complete pipe solution with a capability to manufacture line pipes ranging from ½ inch to 100 inches, along with specialized coating, double jointing and bending. With current capacity of nearly 2 mn MTPA in Dahej, Anjar in Gujarat, India, Little Rock in the USA and Saudi Arabia, Welspun take pride in being a preferred supplier to most of the Fortune 100 Oil & Gas companies. With 360 degree abilities, Welspun Corp has undertaken some of the most challenging projects in different parts of the world. Welspun Corp has continued to further strengthen its services to become an integrated Pipe manufacturer by setting up a world class plates and coils manufacturing facility. Since its inception, Welspun Corp has consistently excelled in new business ventures and is committed to its strategy of complete integration by being a one stop solution in the Line Pipe segment, capturing the entire value chain from manufacturing of Plate & Coil to Line pipe and finally to Pipe laying. With business excellence being a clear focus of Welspun Corp, the company will persist with its clear mandate on innovation and technology, state-of-the-art facilities and global scale operations.
The information in this release has been included in good faith and is for general purposes only. It should not be relied upon for any specific purpose and no representation or warranty is given as regards to its accuracy or completeness. No information in this press release shall constitute an invitation to invest in Welspun Corp Ltd. or any of its affiliates. Neither Welspun Corp Ltd., nor their or their affiliates' officers, employees or agents shall be liable for any loss, damage or expense arising out of any action taken on the basis of this press release, including, without limitation, any loss of profit, indirect, incidental or consequential loss