Perma-Pipe International Holdings is expanding its global coating footprint by securing a majority stake in a new Indian joint venture focused on internal fusion-bonded epoxy pipe protection.
Perma-Pipe announced on November 3, 2026 that its subsidiary Perma-Pipe Qatar will take a 51% stake in Welspun Special Coating Private Limited, adding internal fusion-bonded epoxy coating capacity in India and a platform for domestic and export business. A concrete majority acquisition that broadens the service offering supports the growth outlook, but no purchase price or revenue contribution is disclosed, limiting the measurable near-term effect.
Perma-Pipe International Holdings announced on November 3, 2026, that its subsidiary, Perma-Pipe Qatar, has entered an agreement to acquire a 51% equity interest in Welspun Special Coating Private Limited. This joint venture with Welspun Corp Limited aims to establish a new platform for internal fusion-bonded epoxy coating services, targeting both domestic and export markets in India.
That its subsidiary Perma-Pipe Qatar agreed to acquire a 51% equity interest in Welspun Special Coating Private Limited, a newly formed Indian company providing internal fusion-bonded epoxy coating, while Welspun Corp Limited keeps the remaining 49%.
No. The filing describes the ownership split (51%/49%) and the agreement structure, but discloses no purchase price or financial guidance.