Hariom Pipe Industries has entered into asset transfer agreement with R.P. Metal Sections on December 26, 2022 to purchase their operating Asset which manufactures Galvanized Pipe and Cold Roll coil. This unit is spread across 13.83 acres of land and located at SIPCOT Industrial growth centre, Perundurai, Tamilnadu. This purchase is for an all cash consideration of Rs 55 crore.
This purchase of Asset is subject to obtaining certain permissions and approvals for transfer of license from R.P. Metal Sections to Hariom Pipe Industries. The company is in the process of expanding product range to add more value-added products, this purchase will help the company in achieving the same.
Hariom Pipe Industries is an integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron.