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== History ==
== History ==

=== 1995–2005 ===
Welspun Corp was incorporated in 1995 under the name Welspun Gujarat Stahl Rohren Limited,<ref>{{Cite web |date=2007-12-13 |title=Catch them small |url=https://www.indiatoday.in/magazine/economy/story/20071224-catch-them-small-734781-2007-12-13 |access-date= |website=India Today |language=en}}</ref> with technical collaboration from Intertec GmbH, Germany, and equity participation from Intertec GmbH and Gujarat Industrial Investment Corporation Ltd. The company runs facilities in [[Anjar, Gujarat]] and [[Mandya|Mandya, Karnataka]], India. It also has a plate and coil mill facility in India. In 2004, the company expanded its operations to include the production of high-frequency induction weld (HFIW) pipes and set up a new manufacturing facility in December of that year.<ref name=":03">{{Cite web |title=Welspun Corp Ltd- HDFC securities |url=https://www.hdfcsec.com/hsl.research.pdf/WelspunCorp-PickOfTheWeek20170724090324.pdf |website=HDFC securities}}</ref>
Welspun Corp was incorporated in 1995 under the name Welspun Gujarat Stahl Rohren Limited,<ref>{{Cite web |date=2007-12-13 |title=Catch them small |url=https://www.indiatoday.in/magazine/economy/story/20071224-catch-them-small-734781-2007-12-13 |access-date= |website=India Today |language=en}}</ref> with technical collaboration from Intertec GmbH, Germany, and equity participation from Intertec GmbH and Gujarat Industrial Investment Corporation Ltd. The company runs facilities in [[Anjar, Gujarat]] and [[Mandya|Mandya, Karnataka]], India. It also has a plate and coil mill facility in India. In 2004, the company expanded its operations to include the production of high-frequency induction weld (HFIW) pipes and set up a new manufacturing facility in December of that year.<ref name=":03">{{Cite web |title=Welspun Corp Ltd- HDFC securities |url=https://www.hdfcsec.com/hsl.research.pdf/WelspunCorp-PickOfTheWeek20170724090324.pdf |website=HDFC securities}}</ref>


The company started its pipe coating operations through a partnership with Eupec Pipe Coatings Ltd in [[France]]. Subsequently, there was a consolidation within the company as it merged its joint venture entity, Eupec Welspun Pipecoating India, with Welspun Stahl. This collaborative unit, that was established in the late '90s in partnership with the German company Eupec Pipecoating GmBH, became integrated into Welspun Stahl.<ref>{{Cite web |title=Welspun promoters buy German partner Mulheim Pipe Coatings’ stake in Welspun Corp for $12M |url=https://www.vccircle.com/welspun-promoters-buy-german-partner-mulheim-pipe-coatings-stake |access-date= |website=VCCircle |language=en-US}}</ref>
The company started its pipe coating operations through a partnership with Eupec Pipe Coatings Ltd in [[France]]. Subsequently, there was a consolidation within the company as it merged its joint venture entity, Eupec Welspun Pipecoating India, with Welspun Stahl. This collaborative unit, that was established in the late '90s in partnership with the German company Eupec Pipecoating GmBH, became integrated into Welspun Stahl.<ref>{{Cite web |title=Welspun promoters buy German partner Mulheim Pipe Coatings’ stake in Welspun Corp for $12M |url=https://www.vccircle.com/welspun-promoters-buy-german-partner-mulheim-pipe-coatings-stake |access-date= |website=VCCircle |language=en-US}}</ref>

=== 2006–2010 ===
In October 2006, the company announced a 40:60 joint venture with [[OAO TMK|TMK Group]],<ref name=":2">{{Cite news |title=Welspun forms JV with Russian firm |url=https://www.business-standard.com/article/companies/welspun-forms-jv-with-russian-firm-106100501069_1.html |work=}}</ref> [[Russia]]'s largest manufacturer and exporter of pipe products in the oil and gas sector.<ref>{{Cite news |last=Thomas |first=Prince Mathews |date=2007-03-24 |title=Welspun Gujarat on Russian journey |url=https://economictimes.indiatimes.com/industry/cons-products/durables/welspun-gujarat-on-russian-journey/articleshow/1800653.cms?from=mdr |access-date= |work=The Economic Times |issn=0013-0389}}</ref><ref>{{Cite news |title=Russia's TMK ends JV talks with Welspun Gujarat |url=https://www.reuters.com/article/idUSWLB5677/ |work=}}</ref>

In December, the company entered into an agreement to establish a joint venture with Lone Star Technologies, a U.S.-based company, to manufacture spiral-welded tubular products for the oil and gas industry. As per the agreement, Lone Star and Welspun Pipe, a wholly-owned subsidiary of Welspun-Gujarat Stahl Rohren, acquired 40% and 60% stakes, respectively, in the newly formed company named Welspun Lone Star Tubulars.<ref>{{Cite web |last=Datta |first=Kausik |date=14 February 2013 |title=Welspun, Lone Star plan JV for spiral pipes |url=https://www.business-standard.com/article/companies/welspun-lone-star-plan-jv-for-spiral-pipes-106122101089_1.html |website=}}</ref> However, Lone Star was acquired by US Steel in April 2007 for $2 billion.<ref>{{Cite web |date= |title=U.S. Steel To Acquire Lone Star Technologies For $2.1 Billion |url=https://www.cnbc.com/id/17852561 |access-date= |website=www.cnbc.com}}</ref><ref>{{Cite web |title=U.S. Steel to Buy Lone Star for $2.1 Billion |url=https://www.bloomberg.com/tosv2.html?vid=&uuid=9b00e71e-1027-11ef-8d25-675c474028db&url=L25ld3MvYXJ0aWNsZXMvMjAwNy0wMy0yOS91LWRvdC1zLWRvdC1zdGVlbC10by1idXktbG9uZS1zdGFyLWZvci0yLWRvdC0xLWJpbGxpb25idXNpbmVzc3dlZWstYnVzaW5lc3MtbmV3cy1zdG9jay1tYXJrZXQtYW5kLWZpbmFuY2lhbC1hZHZpY2U= |access-date= |website=}}</ref> In July 2007, Welspun decided to withdraw from the joint venture with Lone Star and announced the establishment of a new wholly-owned subsidiary in the U.S. with an investment of $150 million.<ref>{{Cite news |last=Thomas |first=Prince Mathews |date=2007-07-03 |title=Welspun arm opts out of JV with Lone Star |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/welspun-arm-opts-out-of-jv-with-lone-star/articleshow/2168379.cms?from=mdr |access-date= |work=The Economic Times |issn=0013-0389}}</ref>

In May 2009, Welspun Gujarat Stahl Rohren opened a $150 million plant in the U.S. for the production of steel pipes.<ref>{{Cite news |last=Matthews |first=Robert Guy |title=Indian Steel Forges in U.S. - WSJ |url=https://www.wsj.com/articles/SB124147398160884821 |access-date= |work=WSJ |language=en-US}}</ref> In March 2010, the company bought a 75% stake in the construction firm MSK Projects India for Rs 400 crore through its subsidiary, Welspun Infratech.<ref>{{Cite web |title=Buying MSK Projects India |url=https://www.dnaindia.com/business/report-buying-msk-projects-india-1361089 |access-date= |website= |language=en}}</ref><ref>{{Cite web |date=2010-03-18 |title=Welspun-Gujarat unit to acquire MSK Projects |url=https://www.livemint.com/Companies/RjgdDAzqZNcBS9Hd0VPuVL/WelspunGujarat-unit-to-acquire-MSK-Projects.html |access-date= |website= |language=en}}</ref> Lauri Antero Malkki became the CEO of the company in March 2023.<ref>{{Cite web |last=Ghosh |first=Satish John & Shauvik |date=2010-05-16 |title=Indian firms turn to expats |url=https://www.livemint.com/Companies/rahrDQfF3BiFkwUHAp0rGI/Indian-firms-turn-to-expats.html |access-date= |website= |language=en}}</ref> Also, in 2010, the company rebranded from Welspun Gujarat Stahl Rohren to Welspun Corp Limited.'''<ref name=":1">{{cite news |date=30 April 2010 |title=Welspun Gujarat Stahl Rohren renamed Welspun Corp |url=https://www.business-standard.com/article/companies/welspun-gujarat-stahl-rohren-renamed-welspun-corp-110043000007_1.html |access-date= |work=Businessstandard.com}}</ref>'''


==References==
==References==

Revision as of 13:52, 24 May 2024

Welspun Corp Limited
Company typePublic
IndustriePipe Solutions and building materials
Gegründet1995
Hauptsitz
Mumbai, Maharashtra, India
Key people
B. K. Goenka (Chairman), Vipul Mathur (MD & CEO)
RevenueIncrease ₹10,078.08 crore (US$1.2 billion) (FY23)[1]
Increase ₹206.69 crore (US$25 million) (FY23)[1]
ParentWelspun Group

Welspun Corp Limited (Welspun Gujarat Stahl Rohren) is an Indian multinational company with its headquarters in Mumbai, India. It is one of the largest manufacturers of large-diameter pipes globally, operating in 50 countries across six continents.[2] Its manufacturing facilities are located in Anjar (Gujarat),[3] Bhopal (Madhya Pradesh), Mandya (Karnataka), Jhagadia (Gujarat), and Little Rock, Arkansas, in the US.[4][5]

Welspun Corp forayed into the DI pipes business with an installed capacity of 500,000 tonnes in Anjar in 2020. The facility was commissioned in July of the same year and started operations in 2022.[6] In 2023, Welspun Corp announced that its subsidiary, Welspun DI Pipes, received the Kitemark certificate by BSI UK for the size range of 100 to 1,000 DN against EN 545 and ISO 2531 standards.[7] In March 2023, the company acquired the water tank manufacturer Sintex for Rs 1251 crores to expand its building materials portfolio.[8] Welspun Corp acquired ABG Shipyard's specified assets for Rs 659 crores.[9]

History

1995–2005

Welspun Corp was incorporated in 1995 under the name Welspun Gujarat Stahl Rohren Limited,[10] with technical collaboration from Intertec GmbH, Germany, and equity participation from Intertec GmbH and Gujarat Industrial Investment Corporation Ltd. The company runs facilities in Anjar, Gujarat and Mandya, Karnataka, India. It also has a plate and coil mill facility in India. In 2004, the company expanded its operations to include the production of high-frequency induction weld (HFIW) pipes and set up a new manufacturing facility in December of that year.[11]

The company started its pipe coating operations through a partnership with Eupec Pipe Coatings Ltd in France. Subsequently, there was a consolidation within the company as it merged its joint venture entity, Eupec Welspun Pipecoating India, with Welspun Stahl. This collaborative unit, that was established in the late '90s in partnership with the German company Eupec Pipecoating GmBH, became integrated into Welspun Stahl.[12]

2006–2010

In October 2006, the company announced a 40:60 joint venture with TMK Group,[13] Russia's largest manufacturer and exporter of pipe products in the oil and gas sector.[14][15]

In December, the company entered into an agreement to establish a joint venture with Lone Star Technologies, a U.S.-based company, to manufacture spiral-welded tubular products for the oil and gas industry. As per the agreement, Lone Star and Welspun Pipe, a wholly-owned subsidiary of Welspun-Gujarat Stahl Rohren, acquired 40% and 60% stakes, respectively, in the newly formed company named Welspun Lone Star Tubulars.[16] However, Lone Star was acquired by US Steel in April 2007 for $2 billion.[17][18] In July 2007, Welspun decided to withdraw from the joint venture with Lone Star and announced the establishment of a new wholly-owned subsidiary in the U.S. with an investment of $150 million.[19]

In May 2009, Welspun Gujarat Stahl Rohren opened a $150 million plant in the U.S. for the production of steel pipes.[20] In March 2010, the company bought a 75% stake in the construction firm MSK Projects India for Rs 400 crore through its subsidiary, Welspun Infratech.[21][22] Lauri Antero Malkki became the CEO of the company in March 2023.[23] Also, in 2010, the company rebranded from Welspun Gujarat Stahl Rohren to Welspun Corp Limited.[24]

References

  1. ^ a b "Welspun Corp Ltd" (PDF). Sharekhan. Retrieved 7 July 2023.
  2. ^ "Welspun Gujarat Stahl Rohren renamed Welspun Corp". Businessstandard.com. 30 April 2010.
  3. ^ Soneji, Haresh (4 June 2007). "Can't have enough on its plate". The Economic Times. ISSN 0013-0389.
  4. ^ "Welspun Corp Ltd- HDFC securities" (PDF). HDFC securities.
  5. ^ "Welspun Corp Limited" (PDF). CARE Ratings. Retrieved 7 July 2023.
  6. ^ "Welspun Metallics launches ₹2000 crore manufacturing facility in Gujarat". mint. 4 October 2022.
  7. ^ "Welspun DI Pipes gets 'Kitemark' certificate from BSI UK". CNBCTV18. 9 March 2023.
  8. ^ "Welspun acquires water tanks manufacturer Sintex for Rs 1251 crore". The Economic Times. 30 March 2023. ISSN 0013-0389.
  9. ^ "Welspun Corp eyes monetisation of ABG Shipyard land parcel". www.moneycontrol.com.
  10. ^ "Catch them small". India Today. 13 December 2007.
  11. ^ "Welspun Corp Ltd- HDFC securities" (PDF). HDFC securities.
  12. ^ "Welspun promoters buy German partner Mulheim Pipe Coatings' stake in Welspun Corp for $12M". VCCircle.
  13. ^ "Welspun forms JV with Russian firm".
  14. ^ Thomas, Prince Mathews (24 March 2007). "Welspun Gujarat on Russian journey". The Economic Times. ISSN 0013-0389.
  15. ^ "Russia's TMK ends JV talks with Welspun Gujarat".
  16. ^ Datta, Kausik (14 February 2013). "Welspun, Lone Star plan JV for spiral pipes".
  17. ^ "U.S. Steel To Acquire Lone Star Technologies For $2.1 Billion". www.cnbc.com.
  18. ^ "U.S. Steel to Buy Lone Star for $2.1 Billion".
  19. ^ Thomas, Prince Mathews (3 July 2007). "Welspun arm opts out of JV with Lone Star". The Economic Times. ISSN 0013-0389.
  20. ^ Matthews, Robert Guy. "Indian Steel Forges in U.S. - WSJ". WSJ.
  21. ^ "Buying MSK Projects India".
  22. ^ "Welspun-Gujarat unit to acquire MSK Projects". 18 March 2010.
  23. ^ Ghosh, Satish John & Shauvik (16 May 2010). "Indian firms turn to expats".
  24. ^ "Welspun Gujarat Stahl Rohren renamed Welspun Corp". Businessstandard.com. 30 April 2010.
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