Stock Report

Sealmatic India Ltd partners with EcoTech in USA to get a slice of the USD 1.25 Billion Market Size

Posted On : 2023-12-11 11:54:09( TIMEZONE : IST )

Sealmatic India Ltd partners with EcoTech in USA to get a slice of the USD 1.25 Billion Market Size

In line with its plans to strengthen its footprint across the USA, Sealmatic India Limited (further referred as "Sealmatic") a leading manufacturer of heavy-duty mechanical seal technology company joined hands with EcoTech of USA and shall establish a state-of-the-art centre of excellence to cater to the ever-growing demand for high quality mechanical seals in USA. Sealmatic in partnership with EcoTech shall offer superior quality sealing technology and will significantly add value to the convenience of users in the process industry such as oil & gas, refining, power, marine, pulp & paper, chemical, petrochemical etc., thus accessing a wide range of mechanical seals offered by Sealmatic.

As of 2022, the USA mechanical seal market was tagged at over USD 1.25 Billion and is the largest market globally for cutting edge sealing technology. EcoTech employs a team of technical solutions engineers dedicated to staying at the forefront of the process equipment markets. This includes expertise in mechanical seals, pumps and many other industrial rotary equipment. EcoTech's service centers are capable of extensive repair and fabrication to meet the needs of customers in USA.

Umar A K Balwa (Managing Director - Sealmatic), said: "Sealmatic has always raised the bar in terms of delivering quality sealing technology globally thus meeting the diverse and ever-growing needs of the end users and OEMs. We are pleased to announce the partnership with EcoTech in USA, which is in line with our expansion strategy, strengthening our network throughout the USA. As we continue to expand our offerings across the USA, we look forward to enhancing our state-of-the-art products in addition to prioritizing safety and efficiency in the years ahead."

Trent Cameron and Michael Kistler (Partners of EcoTech), said "Having Sealmatic's exceptional product portfolio in USA is significant not only for the company to grow its business but also for the USA end users and OEMs. This partnership between EcoTech & Sealmatic will provide local engineering, sales and aftermarket support for heavy duty mechanical seals in the process industries such as oil & gas, refining, chemical, power and many other process industries, which have shown significant growth and increased production in USA. In partnership with Sealmatic, we will assist continued growth and expansion with faster and easier access to our world-class products and support from our service centre in Alabama. We can take any situation and improve upon maintenance needs, reliability and process efficiency. Because we know how important the processes are, we strive to be available 24/7 to offer every assistance possible. Concluded Trent and Michael "that we are here to get a well-deserved slice of the overgrowing USD 1.25 Billion mechanical seals market in USA".

Relations between India and the United States date back to India's Independence movement and have continued with deep progress since Independence. India and the United States enjoy close relations and have deepened collaboration on many global issues. With a population of more than 4.4 million, Indian Americans make up approximately 1.35% of the U.S. population and are the largest group of South Asian Americans.

Shares of Sealmatic India Limited was last trading in BSE at Rs. 590.50 as compared to the previous close of Rs. 555.55. The total number of shares traded during the day was 49200 in over 141 trades.

The stock hit an intraday high of Rs. 597.00 and intraday low of 565.00. The net turnover during the day was Rs. 28673265.00.

Source : Equity Bulls


SealmaticIndia INE0O4601016 IndustrialProducts USA Partnership EcoTech