Sealmatic India advanced 1.09% to Rs 585 after the company and its joint venture, High Technology FZ-LLC (HiTech) has incorporated Sealtech Seals Repairs and Maintenance - L.L.C (SealTech LLC) to set up a dedicated service center in Abu Dabhi.
The company has acquired Abu Dhabi Economic License. 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.
The company and High Technology LLC will hold 50% shareholding in Sealtech Seals Repairs and Maintenance - L.L.C. respectively.
Samir Mullaji vice president (business development), said, The launch of SealTech LLC is a significant milestone in our journey to deliver exceptional value to our customers, 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 $60 million mechanical seals market in UAE.
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Sealmatic India is engaged in the business of designing and manufacturing of mechanical seals and associated products. The company has a complete range of engineered mechanical seals and sealing support systems to cater the needs of customers located all across the globe.
The companys consolidated net profit fell 2% to Rs 6.46 crore in H1 FY25 as compared with Rs 6.59 crore in 1H FY24. Net sales jumped 18.7% YoY to Rs 43.93 crore in H1 FY25.
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