India’s MAN Industries acquires Saudi pipe maker NPC to embed capacity in the Kingdom

Mumbai-based carbon steel pipe manufacturer MAN Industries has acquired Saudi Arabia’s National Pipe Company (NPC) in a transaction valued at USD 102 mn (INR 9.8 bn), as per an exchange filing. The acquisition gives MAN Industries full ownership of Kingdom’s API-certified large-diameter carbon steel pipe makers with operations in Dhahran and Al Khobar.

Why it matters: NPC has supplies to major regional energy and infrastructure projects and lists Qatar Petroleum, Kuwait Oil Company, Saipem, Subsea7 and Larsen & Toubro among its clients. NPC boasts a 430k mtpa of pipe manufacturing capacity, long-standing relationships with Saudi Aramco and a debt-free balance sheet. Rather than exporting into Saudi Arabia, MAN is embedding production capacity directly within the Kingdom while building access to a global client base.