Fluidomat Limited , a leading manufacturer of fluid couplings, has announced a strategic move to expand its global presence by entering into an exclusive distributor agreement with Oceanwings Trading Company for the Saudi Arabian market. This partnership marks a significant milestone in Fluidomat's international growth strategy, particularly targeting emerging industrial markets.

Key Details of the Agreement

• Distributor: Oceanwings Trading Company, a subsidiary of Expertise Group
• Territory: Exclusive distribution rights for Saudi Arabia
• Target Sectors: Petrochemical, Mining, and Power industries
• Product Range: Fluid couplings and variable speed couplings up to 6000KW power range

Strategic Implications

This partnership aligns with Fluidomat's long-term strategy to expand its global footprint, especially in large and emerging industrial markets. Saudi Arabia, with its extensive industrial base and future expansion plans, presents a significant opportunity for Fluidomat's products.

Market Potential

The Saudi Arabian market, currently dominated by European companies, offers high potential for Fluidomat's products, particularly for their high-tech Scoop Control Variable Speed Couplings. This move positions Fluidomat to compete in a market previously catered to primarily by European manufacturers.

About the Partners

Fluidomat Limited

• Established in 1971
• Manufactures a wide range of fluid couplings
• Offers products of international standard quality

Oceanwings Trading Company

• Subsidiary of the Expertise Group
• Specializes in industrial products and custom supply contracts
• Provides MRO (Maintenance, Repair, and Operating) materials
• Offers strong technical support for fluid couplings

Expertise Group

• Founded in 2008 in Jubail Industrial City, Saudi Arabia
• A leading industrial conglomerate with over 20,000 employees
• Operates across diverse sectors including petrochemicals, oil & gas, fertilizers, steel, cement, water treatment, and power generation

Potential Impact

This strategic partnership is expected to enhance Fluidomat's market reach in the Middle East, particularly in Saudi Arabia's growing industrial sectors. By leveraging Oceanwings' local presence and the Expertise Group's extensive network, Fluidomat aims to establish a strong foothold in the region's petrochemical, mining, and power industries.

The collaboration between Fluidomat and Oceanwings may create new opportunities for both companies, potentially leading to increased market share and revenue growth in the Saudi Arabian industrial equipment market.

Fluidomat Limited has successfully completed the sale of a portion of its unused agricultural land, as disclosed in a recent regulatory filing. The company executed a sale deed for 0.549 hectare of freehold agricultural land located in Hingonia Gram, Indore, Madhya Pradesh.

Transaction Details

The sale, which was part of a previously announced land divestment, has been finalized with the buyer, Mr. Mahendra Mandloi. Fluidomat Limited received the full payment of Rs. 177.00 lakhs for the transacted land.

Background of the Deal

Initially, the buyer had agreed to purchase the entire 0.743 hectare plot for Rs. 180.00 lakhs. However, the final agreement was modified, with Mr. Mandloi opting to acquire only 0.549 hectare at the revised price of Rs. 177.00 lakhs. As a result of this adjustment, the remaining 0.194 hectare will continue to be held by Fluidomat Limited.

Regulatory Compliance and Transparency

In compliance with SEBI regulations, Fluidomat Limited has made the necessary disclosures regarding this transaction. The company confirmed that the buyer, Mr. Mahendra Mandloi, does not hold any shares in Fluidomat Limited. Furthermore, the disclosure explicitly stated that none of the company's promoters, directors, or key management personnel have any interest in this land sale transaction.

Company Secretary's Statement

Devendra Kumar Sahu, Company Secretary and Compliance Officer of Fluidomat Limited, signed off on the regulatory filing, ensuring adherence to the disclosure requirements under SEBI (LODR) Regulations, 2015.

This land sale aligns with Fluidomat Limited's strategy to divest non-core assets, potentially allowing the company to focus on its primary business operations and optimize its asset portfolio.