VALLOUREC : VALLOUREC : Vallourec strengthens its R&D capacities with the
inauguration of a new Research Center in Rio de Janeiro, dedicated to pre-salt
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
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.
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.
For further information, please contact
Press relations Investor relations
Caroline Philips Etienne Bertrand
Tel: +33 (0)1 41 03 77 50 Tel: +33 (0)1 49 09 35 58
130709_Vallourec Press release_Rio Center Inauguration_ENG
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Source: VALLOUREC via Thomson Reuters ONE
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