Perma-Pipe agrees to form coating joint venture with Welspun in India
PPIH•Perma-Pipe Qatar agreed to acquire a 51% stake in Welspun Special Coating for an Indian coating joint venture. Welspun Corp will acquire the remaining 49% from Welspun DI Pipes.
1. Joint venture stakes
Perma-Pipe Qatar agreed to acquire a 51% stake in Welspun Special Coating, while Welspun Corp will acquire the remaining 49%; both stakes will be purchased from Welspun DI Pipes. The venture will add internal fusion-bonded epoxy coating services and create a platform to pursue domestic and export opportunities in India.
