Mattr to sell Brazilian pipe coating business to Vallourec 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 provides thermal insulation pipe coating services to the offshore oil and gas industry from its plant in Serra, Brazil and is the company's final remaining pipe coating business. The transaction, under which Vallourec will acquire 100% of the shares of the Thermotite legal entity, is anticipated to be completed within the standard review time. The company will control and retain all earnings from Thermotite until the transaction closes, and upon closing, expects to receive gross sale proceeds of at least $17.5 million or approximately C$24 million. Recommended For You More Trending News Recommended For You More Trending News Related Stocks Trending Analysis Trending News
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