Sealmatic India Limited announced a partnership with Saudi Thalate General Manufacturing Industrial Co Ltd (STG) today, marking its entry into the Saudi Arabian market. The collaboration aims to sell, repair, and refurbish mechanical seals in the Kingdom, targeting industries such as oil and gas, petrochemicals, power, and water desalination.
The shares of Sealmatic India Limited were trading at ₹573.95 down by ₹6.05 or 1.04 per cent on the BSE today at 10.25 am.
The mechanical seals market in Saudi Arabia is currently valued at $150 million, presenting significant opportunities for Sealmatic. Saudi Arabia, the world’s second-largest crude oil producer, generates approximately 12 million barrels per day, making it a key player in the global energy sector.
Samir Mullaji of Sealmatic India emphasized the alliance’s commitment to responding quickly to customer needs, offering 24/7 service availability. Shaukat Marediya of STG highlighted plans to provide tailored service packages and expand their joint global service presence.
This partnership aligns with the growing economic ties between India and Saudi Arabia, particularly in trade, energy, and strategic partnerships. Sealmatic aims to leverage STG’s local expertise to offer its global standards of excellence to Saudi customers.