Inauguration of a new Research Center in Rio de Janeiro

09/07/2013 - Innovation and R&D, Brazil
Vallourec strengthens its R&D capacities with the inauguration of a new Research Center in Rio de Janeiro, dedicated to pre-salt activities.

Rio de Janeiro and Boulogne-Billancourt, July 9, 2013 - Vallourec, world leader in premium tubular solutions, today announces the inauguration of a new Research Center in Rio de Janeiro, in the presence of Philippe Crouzet, Chairman of Vallourec’s Management Board. Due to be operational by October 2013, the Rio Center will focus on all pre-salt activities of the Group, with the support of Vallourec’s Research Center in Belo Horizonte which was recently expanded as well, and the other Vallourec research centers throughout the world. Vallourec has a worldwide network of more than 500 R&D engineers and technicians, and spent €93 million in 2012 on R&D. With this reinforced R&D structure in Brazil, Vallourec reaffirms its commitment to innovation and meeting its clients’ technological challenges with the most premium solutions.

Located next to Petrobras’ CENPES research center in the Technological Park of Rio de Janeiro, the Rio Center will allow Vallourec to work even more closely with the Brazilian national oil company on the needs for pre-salt fields, which are characterized by extreme pressure, temperature, and corrosion conditions. The new unit will benefit from synergies with the Federal Universities of Rio de Janeiro and Minas Gerais among others, in areas such as the environment, robotics, and energy use.

Flávio de Azevedo, Vice-President Technology, R&D and Innovation (TRDI) of the Vallourec group, declared: “We are happy to further extend our long-term collaboration with Petrobras, and support them with our best innovation capability in order to tackle the unequalled challenges of the pre-salt exploitation, as well as future challenges like those of the yet unexplored equatorial margins. These new exploitation frontiers have severe requirements on pipes and connections, which need to be able to withstand unique combinations of mechanical, corrosive and thermal constraints. Vallourec, through its sustained innovation capability, is able to meet these technological challenges and supply Petrobras with the most advanced solutions.”

Vallourec is one of Petrobras’ long-standing partners, the collaboration between the two groups dating back to 60 years. Within a recently renewed 5-year main frame agreement, Vallourec supplies Petrobras with premium pipe and connections for the oil company’s offshore exploration and production wells, including the huge reservoir of the pre-salt fields.

 


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 23,000 employees, integrated manufacturing facilities, advanced R&D and a presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the energy challenges of the 21st century.

Listed on the NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: MSCI World Index, Euronext 100 and CAC 40.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

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