On Friday, Prince Pipes and Fittings' shares gained over 15 percent to Rs 141.90 on NSE after the company announced a technical collaboration with Tooling Holland BV to strengthen technical competence and enhance operational efficiencies.
In a stock exchange filing on Thursday, the integrated piping solutions & multi polymer manufacturers, said announced that the company has entered into a technical collaboration with Tooling Holland BV, a global leader in the international plastic injection moulding industry based in The Netherlands.
"This association will enable Prince Pipes to draw upon Tooling Holland's technical expertise and deep knowledge, build skills at par with international standards, significantly enhance internal operational efficiencies, optimize production costs," the company said in its statement.
"We are excited to announce our collaboration with Tooling Holland BV as they bring with them tremendous expertise in plastic mould manufacturing. This alliance provides great impetus to our growth plans and our firm commitment to build and offer superior products, aligned to global standards and at competitive costs. They are also pioneers in critical technologies which will help us build our competitive edge. We see huge potential in collaborating with Chris and his team, as partners, not only in terms of upgrading our own technical know-how but also to build productivity improvements, leverage their strong inclination towards research & innovation right from designing to mould manufacturing aimed at offering a great product," said Parag Chheda, Executive Director of Prince Pipes and Fittings Limited.