Perma-Pipe Expands Coating Capabilities in India Through Majority-Owned Joint Venture with Welspun
Key Highlights
- ➤Perma-Pipe Qatar agreed to acquire 51% of Welspun Special Coating Private Limited.
- ➤Welspun Corp will acquire the remaining 49% stake from Welspun DI Pipes.
- ➤Joint venture adds internal fusion-bonded epoxy coating capabilities in India.
- ➤Platform targets domestic and export coating opportunities across Indian markets.
Expert Statements
Saleh Sagr, President and Chief Executive Officer of Perma-Pipe
“This joint venture represents another important step in expanding Perma-Pipe’s global coating capabilities and strengthening our presence in strategically important markets.”
Saleh Sagr, President and Chief Executive Officer of Perma-Pipe
“By combining our technical expertise in advanced corrosion protection with a focused local operating platform, we aim to enhance our ability to serve customers across India and international markets.”
Saleh Sagr, President and Chief Executive Officer of Perma-Pipe
“We believe the addition of IFBE coating capabilities will strengthen our competitive position, broaden our solutions offering and create new opportunities for sustainable, long-term growth.”
Perma-Pipe Expands Coating Capabilities in India Through Majority-Owned Joint Venture with Welspun
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), a global leader in engineered piping and corrosion protection solutions, today announced that its subsidiary, Perma-Pipe Qatar, has agreed to acquire a 51% equity interest in Welspun Special Coating Private Limited (“WSCPL”), a newly formed company that will provide internal fusion-bonded epoxy (“IFBE”) coating and related services in India. The interest is being acquired from Welspun DI Pipes Limited (“WDI”), a wholly owned subsidiary of Welspun Corp Limited (“WCL”). WCL will also acquire the remaining 49% from WDI. The resulting joint venture adds IFBE coating to Perma-Pipe’s service offering and establishes a platform to pursue domestic and export opportunities in the Indian market.
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