Vallourec finalizes the sale of VPS and VCAV

11/12/2007 - Industry, Automotive
Vallourec announces that it finalized the sale to ArcelorMittal of Vallourec Précision Soudage (“VPS”) and Vallourec Composants Automobiles Vitry (“VCAV”).

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.

 


About Vallourec

Vallourec is a world leader in the production of seamless steel tubes destined primarily for the oil and gas and power generation sectors, and other industrial applications.

Vallourec is listed on the Euronext Paris Eurolist (ISIN code: FR0000120354), is eligible for the deferred settlement system and is included in the following indices: MSCI World Index, Euronext 100 and CAC 40. FTSE classification: engineering and machinery.

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