Nitin Fire subsidiary Nitin Cylinders Ltd signs MoU with Iran

Nitin Fire Protection Industries Ltd has announced that Nitin Cylinders Ltd, a wholly Owned Subsidiary of the Company has signed a MOU for the supply CNG Gas Cylinders to IRAN worth INR 650/- Millions. The execution of the order shall be done within this current financial year.

Also received Letter of Intent form Bangladesh, U.A.E. and Domestic market for the supply of CNG Gas Cylinder worth approx INR 250/- Millions.

Further the Company has also received the purchase order from Reliance Petroleum Ltd for supply of fire extinguishing systems for there refinery, valuing INR 70 Million.

Further the plant of the Company at Himachal Pradesh has started operation for manufacturing of Fire Protection equipments.

Further Company has also incorporated a Wholly Owned Subsidiary (WOS) Nitin Ventures FZE in Jebel Ali free Zone, UAE. The WOS will be involved in various business activities and will help the Company to expand its activities in the Middle East.

Source : Equity Bulls

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