Subsidiaries

Salem was incorporated in the year 2002 as a Limited Liability Company, represents international producers of DOM (Drawn over Mandrel) and seamless tubing, supplied in carbon and alloy grades; as well as welded and seamless stainless steel tubing in the USA market. Further, the Company has floated a step down Subsidiary / Limited Liability Company (“LLC”) in the United States of America (“USA”) by name ‘Salem Steel NA, LLC’ (“SSNA”).

Innoventive Industries Ltd. has acquired 100% stake in the Salem steel NA LLC in 2016 through its wholly owned subsidiaries Innoventive America INC and Innovative Technomics Private Limited. This 100% stake acquisition will be earnings accretive and will also help Company to further improve its margins in the developed markets.

The current revenue and profitability along with the potential for growth also make it a very attractive proposition on a commercial basis. This acquisition contributes to growth and realized significant value for all our stakeholders.

To know more about Salem Steel NA, LLC please visit www.salemsteel.com

ITPL is a pioneer of Harmonic free FCMA (Flux Compensated Magnetic Amplifier) Electrical Soft Starters and a market leader since 1996. The company through its in-house research and development has achieved breakthrough innovation in motor starting solution. It provides efficient smooth motor starting with its FCMA technology for induction motors, synchronous motors and slipring motors.

It also makes load banks, test rigs, and power winches, among other products. The products are widely used across diverse set of industries which includes water supply, steel, power, cement, textile, bio-tech and mining.

Its customers include leading companies within India and overseas like Kirloskar Brothers Ltd., Ingersoll Rand, BHEL, Atlas Copco, HPCL, Reliance Industries, Voltas Ltd., Tata Steel and Tata Motors.

For more information please visit http://www.innotech-ind.com/

Sankalp Engineering & Services Pvt. Ltd. was established in the year 1996. Located in Pune, India, It is one of the leading manufacturers of Closed Die & Open Die Forgings, and Machined Forged & Tubular Components for Oil & Gas and Energy Industries.

Its key products include Oil Well Drilling Couplings (tubing/casing), Pup Joints, Gear Blanks, Axle Shafts, Hubs, Rollers, Cross Forgings and Rotors. Sankalp Engineering & Services Pvt. Ltd. supplies its products to various countries such as the U.S.A., Canada, Latin America, U.A.E., Qatar, Saudi Arabia, Germany, Switzerland, Ireland and Singapore.

It is an ISO-9001:2008/TS-16949:2009 and ISO 14001:2004/BS OHSAS 18001:2007 certified company. It also holds API 6A, API 7-1, 5DP, API 5CT and 5L License by American Petroleum Institute.

For more information please visit www.sankalpenggservices.com