Vallourec holds 19.5% of Tianda Oil Pipe

01/04/2011 - China, Oil & gas, OCTG
Vallourec announces today that it has completed the acquisition of 19.5% of the share capital of Tianda Oil Pipe Company Limited.

Boulogne-Billancourt, 1 April 2011 - Vallourec, world leader in premium tubular solutions, announces today that it has completed the acquisition of 19.5% of the share capital of Tianda Oil Pipe Company Limited. The transaction, which was subject to approval by shareholders of Tianda Oil Pipe and regulatory approvals by Chinese and Hong Kong authorities, was achieved through a reserved capital increase, in accordance with the agreement announced on 15 September 2010.

Listed on the Hong Kong stock exchange, Tianda Oil Pipe is a Chinese seamless pipe manufacturer of OCTG (oil country tubular goods). As previously indicated, a cooperation agreement provides for VAM Changzhou, a Vallourec company, to thread pipes from Tianda Oil Pipe locally to serve the domestic Chinese premium OCTG market.

 


About Vallourec

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

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

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

In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). The ratio of Vallourec ADR to ordinary shares is 5:1.

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