VALLOUREC : Vallourec is considering divesting its "Drilling Products" business
11 Décembre 2017 - 11:31PM
Vallourec is considering divesting its
"Drilling Products" business
Boulogne-Billancourt, December 11, 2017 -
Vallourec, world leader in premium tubular solutions, today
announces that, after negotiations run with the US oil services
company National Oilwell Varco (NOV), it has received a binding
offer for the purchase of Vallourec Drilling Products business, for
a total cash amount of US$63 million.
This offer covers all of Vallourec's industrial
activities related to Vallourec Drilling Products in North America,
in the Middle East, in the Netherlands, and in France (one plant in
Aulnoye-Aymeries, Hauts de France). The French "Drilling Products"
sites in Cosne sur Loire (Bourgogne-Franche Comté) and in Tarbes
(Occitanie) would undergo an independent divestment process at the
same time.
Vallourec Drilling Products, with an overall
workforce of around 600 employees, offers a wide range of products
including drill pipes, drilling accessories and other tubular
products.
NOV is a US company and leading provider of oil
services with a global presence, offering the technology, equipment
and services needed for drilling, oil and gas well completion, and
hydrocarbon production.
This project further supports Vallourec's
Transformation Plan aiming at strengthening its competitiveness on
its strategic markets. In accordance with the applicable
regulations, this project is conditional upon the approval of
governance structures and consultation with the relevant staff
representative bodies.
About VallourecVallourec is a world
leader in premium tubular solutions for the energy markets and for
challenging industrial applications such as oil and gas wells in
harsh environments, new generation power plants, daring
architectural projects, and high-performance mechanical equipment.
Vallourec's pioneering spirit and cutting-edge R&D continually
open new technological frontiers. Operating in more than 20
countries, its 19,000 dedicated and passionate employees work
hand-in-hand with their customers to offer more than just tubes:
they deliver innovative, safe, competitive and smart tubular
solutions to make every project possible. Listed on the Euronext in
Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the
Deferred Settlement Service (SRD), Vallourec is included in the
following indices: SBF 120 and Next 150. In the United States,
Vallourec has established a sponsored Level 1 American Depositary
Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). The
parity between the ADR and an ordinary Vallourec share is 5 for
1.
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For more information,
please contact:
Investor relations |
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Press
relations |
Alexandra Fichelson |
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Héloïse
Rothenbühler |
Guilherme Camara |
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Tel: +33
(0)1 41 03 77 50 / +33 (0)6 45 45 19 67 |
Tel: +33
(0)1 49 09 39 76 |
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heloise.rothenbuhler@vallourec.com |
investor.relations@vallourec.com |
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Individual shareholder relations |
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Toll-Free Number: 0 800 505 110 |
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actionnaires@vallourec.com |
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