Vallourec Enhances Its Line Pipe Coating Solutions With the Acquisition of Thermotite do Brasil
VALLOUREC SA SP/ADR (VLOWY)
NASDAQ:AMEX Investor Relations:
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Source: GlobeNewswire
VALLOUREC ENHANCES ITS LINE PIPE COATING SOLUTIONS WITH THE ACQUISITION OF THERMOTITE DO BRASIL Meudon (France), September 16, 2024 – Vallourec, a world leader in premium seamless tubular solutions, has entered into a definitive agreement to acquire from Mattr (MATR.TO) 100% of the shares of its subsidiary Thermotite do Brasil Ltda. a specialized provider of thermal insulation pipe coating services for the offshore oil and gas industry. The acquisition price is US$ 17.5 million, on a cash-free, debt-free basis, subject to customary price adjustments (including working capital). Thermotite’s facility is located within Vallourec’s existing coating services premises in Serra, Esperito Santo State, Brazil. This acquisition will support Vallourec’s premiumization strategy, reinforce its presence across the industry value chain with an integrated industrial set up and improve its technical expertise, notably for the offshore and particularly deepwater markets. Philippe Guillemot, Chairm
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