Meson Valves India Limited a leading manufacturer of high-quality valve products, has announced the signing of a term sheet agreement with Nirmon Marine Solutions LLP, a Goa-based maritime technical consultancy firm. The agreement includes Meson Valves acquiring a 26% stake in Nirmon Marine Solutions, subject to regulatory approvals and customary closing conditions.
This collaboration comes as India’s shipbuilding industry experiences rapid growth, with market value soaring from $90 million in 2022 to $1.12 billion in 2024. With government initiatives aimed at maritime infrastructure development, the industry is projected to reach $8 billion by 2033.
Speaking on the partnership, Brijesh Manerikar, Chairman and Managing Director of Meson Valves India Limited, said, “This strategic investment in Nirmon Marine Solutions represents a significant milestone in our growth journey. By combining our manufacturing excellence with Nirmon’s maritime expertise, we’re creating a synergy to enhance our offerings in the marine sector.”
Nirmon Marine Solutions, staffed with experts in naval architecture and marine engineering, provides ship design, vessel management, and shipyard operations. The partnership is expected to bolster its ability to meet the evolving technical demands of the maritime sector.
Nirmon CEO Niranjan Nigalye commented, “This collaboration amplifies our capabilities to deliver superior technical solutions. Together, we’ll address the maritime sector’s evolving needs while maintaining our commitment to technical excellence and innovation.”
