Manaksia Coated Metals & Industries has signed a Memorandums of Understanding (MoU) with certain European clients, amounting to Rs 500 crore.
Under these agreements, the company will supply up to 50,000 metric tonnes of pre-painted steel coils, Alu-Zinc coated coils, and galvanized steel products over the next 12 months. This development is expected to enhance the company's production capacity utilization and further strengthen its global export portfolio.
Commenting on the performance, Karan Agrawal Whole Time Director, Manaksia Coated Metals & Industries Limited said, " Signing these MoU's is a significant milestone for Manaksia Coated Metals and Industries. We believe that this partnership further strengthens our position in global markets. We are also advancing a 7.0 MWp renewable energy project to reduce dependency on grid power and improve cost efficiency. Our external credit rating has been recently upgraded by Acuité from A(-) to A for the long-term and from A2 to A1 for the short-term, reflecting the robustness of our financial fundamentals. With upcoming capacity expansions and technology upgrades, we are entering an exciting growth phase that will enable us to scale and capture a larger share of the global coated metals industry.”