VALLOUREC : VALLOUREC : Qualification of Vallourec's new finishing plant in
Qualification of Vallourec's new finishing plant in Saudi Arabia
Boulogne-Billancourt, February 21, 2013 - Vallourec, world leader in premium
tubular solutions, announces the full qualification of its new finishing plant
in Saudi Arabia. Located in Dammam, this unit is dedicated to the heat
treatment and threading for the full range of VAM^® premium connections, with
an annual capacity of 100,000 tons. It will mainly supply Saudi Aramco, the
Kingdom's national oil company, along with other regional operators. With the
qualification of this plant, Vallourec is reinforcing its presence in the
Middle East where numerous oil and gas projects require high added-value
Resulting from the acquisition in 2011 of Saudi Seamless Pipes Factory Company
Limited - "Zamil Pipes", the finishing plant comprises a heat treatment unit,
a new threading unit and coupling shop (the last 2 built by Vallourec). It is
now qualified to carry out all operations required in the production of
premium connections using hollows provided by Vallourec's pipe mills.
The new plant is expected to generate around 100 jobs, bringing the total
number of employees working there by the end of 2013 to 200.
Didier Hornet, Managing Director of Vallourec's Oil & Gas Activities,
said:"The qualification of our new upgraded finishing plant by Saudi Aramco
gives Vallourec a clear competitive edge in the Kingdom and in the Middle
East, where the demand for local content is increasing. This investment will
enable us to support local customers with the most advanced premium products
for their growing gas projects, and with increased services thanks to higher
flexibility and shorter delivery times."
The new finishing plant has already received an order for 20,000 tons of
Vallourec is a world leader in premium tubular solutions primarily serving the
energy markets, as well as other industrial applications.
With over 22,000 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
Listed on NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and
eligible for the Deferred Settlement System, Vallourec is included in the MSCI
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.
VAM^® is a registered trademark belonging to the Vallourec group.
FOR FURTHER INFORMATION, PLEASE CONTACT
Tel: +33 (0)1 41 03 77 50
Tel: +33 (0)1 49 09 35 58
130221_PR Vallourec Saudia Arabia qualification (pdf)
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Source: VALLOUREC via Thomson Reuters ONE
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