Ador draws Gulf route to growth

Article From sify.com
10/12/2007

Brief Summary:

Ador Welding Ltd (AWL), the Rs 300-crore firm engaged in welding products, technologies and services has plans to scale its overseas business by tapping the Gulf, Middle East and African markets.
The company which has an installed capacity of 1,07,800 tonnes per annum (tpa) for Arc Welding Electrodes & Continuous Welding Wires and Fluxes is also eyeing oil & gas and infrastructure development sectors.
In the last two years, Ador Welding had invested over Rs 45 crore in new technology and production facilities, which are likely to yield results in FY08.
According to B&K Research, the Rs 2,000 crore welding industry is expected to generate huge demand with the Indian economy expected to grow between 8-10 per cent and large investments oming up in core sectors like oil & gas, transportation, construction, power and irrigation.
HDFC Securities said in a note to clients on September 17, that demand for welding electrodes has remained on growth path, giving rise to sustained rise in production
Which is due to current and mid-term focus on construction and infrastructure.
This will help the domestic welding market size to be about Rs 2,500 core by 2010.

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