Sealmatic India Limited (further referred as "Sealmatic") proudly announces that it has acquired Abu Dhabi Economic License (CN-5595547) for its joint venture with High Technology FZ-LLC (further referred as "HiTech") for incorporation of SEALTECH SEALS REPAIRS AND MAINTENANCE - L.L.C (further referred as "SealTech LLC") a dedicated state of the art service center in Abu Dhabi. This 50:50 Joint Venture of Sealmatic with HiTech marks a significant milestone to cater to the ever-increasing demand for mechanical seals in the UAE region.
SealTech LLC is situated in the Musaffah Industrial Area (Abu Dhabi), which will be equipped with state-of-the-art plant and machinery. Two experienced personnel from Sealmatic India will be transferred to SealTech LLC in Abu Dhabi to kick start the operations. The service centre will provide world class support and services for mechanical seals, addressing the needs of major customers like ADNOC, OEMs like KSB, Sulzer, Sundyne, Ebara, RuhrPumpen and host of other EPCs such as PEG, Saipem, Maire Tecnimont, Worley, Wood Group and many other important customers.
Mu?affah or Musaffah is an industrial district to the southwest of Abu Dhabi, UAE. Also known as Mu?affah A?-?an??iyah (in Arabic) it is one of the most important economic areas of the UAE and has been designated a special economic zone, with numerous factories and port. Thus, making it an ideal location for SealTech LLC to operate and grow.
"The launch of SealTech LLC is a significant milestone in our journey to deliver exceptional value to our customers," said Mr. Samir Mullaji - Vice President (Business Development). "By establishing this service center, we are even faster and can precisely respond to our customers' needs 24/7, offering a high level of availability, 365 days a year and to be physically connected to where the action is.
SealTech LLC is dedicated to provide tailored solutions that meet the distinct needs of our customers, solidifying its position as a trusted partner in the region and to get a significant portion of the USD 60 Million mechanical seals market in UAE.
Shares of Sealmatic India Limited was last trading in BSE at Rs. 561.05 as compared to the previous close of Rs. 578.70. The total number of shares traded during the day was 25200 in over 140 trades.
The stock hit an intraday high of Rs. 592.50 and intraday low of 547.00. The net turnover during the day was Rs. 14235637.00. |
