Business Daily from THE HINDU group of publications Sunday, Mar 16, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Overseas Investments Man Ind to locate new facility in Arkansas Our Bureau Mumbai, March 15 Mumbai-based pipe manufacturer Man Industries announced plans to locate a new manufacturing facility on a 162-acre site at the Little Rock Port in Arkansas, US. The company will invest approximately $100 million (Rs 400 crore) in the facility, which will employ 250 people. Production will begin by early 2009, said a company release. The facility will also serve as Man’s headquarters for North and South America. Man Industries’ Little Rock location will have the capability of producing 300,000 tonnes of HSAW (Helical Submerged Arc Welded) pipes annually. These pipes will be used primarily in the petroleum industry. A coating facility will also be on site. “The execution of this first facility is significant for Man, as we strengthen our presence in the US market and take an important step towards investing in this region,” said Mr Ramesh Mansukhani, Chairman of Man Industries (India) Ltd. Man Industries currently has two manufacturing facilities in Gujarat and Madhya Pradesh. More Stories on : Overseas Investments | Metals
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