India’s Maharashtra Seamless Limited (MSL) has floated a wholly-owned subsidiary - United Seamless Limited - to spearhead its entry into the manufacturing of steel pipes for offshore oil exploration and electricity generation in its push toward high growth sectors, according to a company statement on Wednesday, May 20.
The strategy is to have a dedicated entity for manufacture of high value pipes for specific sectors, bolstering MSL’s diversification, the company said.
The initiative will unlock new revenue streams and diversify MSL’s product portfolio, it added.
MSL, part of the D P Jindal Group, is a leading manufacturer of steel seamless pipes, electric resistance welded (ERW) pipes, and corrosion-resistant coated pipes.
