Vallourec to bolster its footprint in Brazil with acquisition of Thermotite do Brasil for $17.5M [Seeking Alpha]
VALLOUREC SA SP/ADR (VLOWY)
NASDAQ:AMEX Investor Relations:
vallourec.com/en/group/finance/investor_relations/pages/default.aspx
Company Research
Source: Seeking Alpha
Thermotite's facility is located within Vallourec's existing coating services premises in Serra, Esperito Santo State, Brazil. The development will enhance Vallourec's technical expertise and its line pipe coating solutions, strengthen its industry presence, and support its premiumization strategy, particularly in the offshore and deepwater markets. The deal to acquire 100% of the shares of Thermotite do Brazil is subject to customary closing conditions, including regulatory approvals, the company said in a statement. The company reiterates its previously stated targets to deleverage further in the second half of 2024 and to commence shareholder returns in 2025 at the latest. Recommended For You More Trending News Recommended For You More Trending News Related Stocks Trending Analysis Trending News
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