Mumbai, January 10, 2026 – Lloyds Engineering Works Limited (BSE: 539992, NSE: LLOYDSENGG) has entered into a purchase and licensing agreement with The Materials Works Limited, a Delaware-incorporated company based in the United States, to design, manufacture, and sell advanced acid-less steel pickling systems globally.
The agreement enables Lloyds Engineering to commercially deploy the proprietary Eco Pickled Surface Generation 4 technology, an environmentally sustainable steel surface treatment solution developed and patented by The Materials Works over more than a decade of research and industrial application.
Scope of the Agreement and Geographic Coverage
Under the terms of the purchase agreement, Lloyds Engineering will have the exclusive right to design, manufacture, and sell EPS Generation 4 cells across global markets, with defined geographic exclusions. The licensed territory excludes China, Macao, Hong Kong, Taiwan, and a limited radius surrounding Red Bud, Illinois in the United States, where The Materials Works is headquartered.The arrangement positions Lloyds Engineering as a global manufacturing and commercialization partner for the EPS Generation 4 technology, expanding its advanced engineering solutions portfolio for the metals and steel processing industry.
Technology Overview and Commercial Rights
EPS Generation 4 is an acid-free pickling technology used for cleaning flat-rolled steel products, including stainless steel. Unlike conventional pickling processes that rely on acids and generate environmentally hazardous effluents, the EPS technology eliminates the use of acid entirely.The process is designed to be environmentally friendly, with all materials used being recyclable and resulting in zero effluent discharge. This aligns with increasing global demand for sustainable industrial processes, particularly within steel manufacturing and downstream processing.
As part of the agreement, Lloyds Engineering is entitled to manufacture and sell an unlimited number of EPS cells using the patented technology, subject to agreed earnout payments to The Materials Works for a defined period.
Financial and Commercial Structure
The consideration for the agreement will be paid entirely in cash through annual payments, as mutually agreed between the two companies. There is no equity exchange involved as part of the transaction.The arrangement does not involve any related party interests, and there is no promoter or group company involvement in The Materials Works.
Technical Support and Capability Transfer
In addition to licensing rights, The Materials Works will provide comprehensive technical and commercial support to Lloyds Engineering. This includes access to ongoing design improvements, technical training, sales and marketing materials, and structured sales support programs. The collaboration is intended to ensure seamless technology transfer and enable Lloyds Engineering to scale manufacturing and deployment efficiently across international markets.About the Company
Lloyds Engineering Works Limited is an India-based engineering company engaged in manufacturing and delivering heavy engineering equipment and advanced industrial solutions for sectors including metals, energy, and infrastructure. The company is listed on both BSE and NSE and was formerly known as Lloyds Steels Industries Limited.Source:
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