Boulogne Billancourt, 11 December 2007 –
Vallourec, world leader in the production of seamless steel tubes, announces
that it finalized the sale to ArcelorMittal of Vallourec Précision Soudage
(“VPS”) and Vallourec Composants Automobiles Vitry (“VCAV”), all the conditions
necessary for completion of the transaction having been fulfilled. A
preliminary agreement had been signed on 20 July 2007.
VPS is specialized in the production of welded
precision tubes for the automotive industry: suspension and body in white
components, car seats and cold-drawn products. Its annual sales are around €
100 million. VCAV is specialized in chassis functions and passive safety
solutions. Its annual sales are around € 45 million.
The combination of VPS and VCAV with
ArcelorMittal will enable both of these companies to benefit from the strong
presence of ArcelorMittal within the European automotive industry and secure
their future development.