Vallourec secures two contracts and announces Brazilian investment
Following a 7.94% decline triggered by ArcelorMittal's sale of 23.9 million shares, Vallourec has announced major contract wins in Guyana alongside a strategic investment in Brazil.
In detail, the premium seamless tubular solutions specialist has secured two new pipeline orders from ExxonMobil Guyana Limited. These orders, placed under the long-term agreement signed in 2021, further strengthen the partnership between the two companies. The French group will supply over 145 km of pipeline, representing approximately 40,000 tonnes of tubing. Notably, 90 km will be heat-treated using the Proxxima resin system, featuring ExxonMobil's proprietary subsea insulation technology.
To support this expansion, the group will invest in modernizing its Vallourec Coating Solutions plant located in Serra, Espirito Santo, Brazil.
The financial terms of the contracts and the specific investment amount were not disclosed.
Vallourec is a world leader in the production of non-welded steel tubes and specialized tube products for industrial applications. Net sales (including intragroup) break down by activity as follows:
- tube manufacturing (87.3%). Net sales break down by market between oil, gas and petrochemical industries (83.8%), mechanical, automotive and construction industries (9.1%) and electrical energy (7.1%).
- mining and forestry (8.4%);
- other (4.3%).
Net sales (tube activity) are distributed geographically as follows: Europe (4.2%), North America (40.6%), the Middle East (22.1%), South America (15.9%), Asia (10.8%) and other (6.4%).
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