Meson Valves India Limited (BSE CODE: 543982), globally recognized as The Valve Specialists, announced today the signing of a term sheet agreement with Nirmon Marine Solutions LLP, a Goa-based maritime technical consultancy firm. Under the terms of the agreement, Meson Valves will acquire a 26% stake in Nirmon Marine Solutions, subject to customary closing conditions and regulatory approvals. This strategic partnership marks a significant milestone in Meson's expansion plans for the marine sector.
The agreement comes at a pivotal time when India's shipbuilding industry is experiencing unprecedented growth, having surged from $90 million in 2022 to $1.12 billion in 2024. With government initiatives supporting maritime infrastructure development and projections indicating an $8 billion market value by 2033, this collaboration positions both companies to capitalize on the expanding opportunities in India's maritime sector.
The proposed partnership aims to combine Meson's expertise in valve manufacturing and systems with Nirmon's deep maritime industry knowledge, creating enhanced value for customers in the marine sector while strengthening both companies' positions in the maritime industry.
Mr. Brijesh Manerikar, Chairman & Managing Director of Meson Valves India Limited, commented, " This strategic investment in Nirmon Marine Solutions represents a significant milestone in our growth journey. By combining our manufacturing excellence with Nirmon's deep maritime expertise, we're creating a powerful synergy that will enhance our service offerings to the marine sector. This partnership will enable us to provide more comprehensive solutions to our customers while strengthening our position in the maritime industry. We see tremendous potential in leveraging Nirmon's technical knowledge to develop innovative valve solutions specifically tailored for marine applications."
Mr. Niranjan Nigalye, CEO of Nirmon Marine Solutions LLP, commented, "Joining forces with Meson Valves India Limited marks an exciting new chapter. This collaboration will amplify our capabilities to deliver superior technical solutions to the maritime industry. Our team's expertise in naval architecture and marine engineering, combined with Meson's manufacturing prowess, creates a unique value proposition for our clients. Together, we'll be better positioned to address the evolving needs of the maritime sector while maintaining our commitment to technical excellence and innovation."
Shares of Meson Valves India Limited was last trading in BSE at Rs. 525.85 as compared to the previous close of Rs. 534.30. The total number of shares traded during the day was 51400 in over 209 trades.
The stock hit an intraday high of Rs. 542.00 and intraday low of 507.60. The net turnover during the day was Rs. 26650780.00. |
