VALLOUREC: Vallourec's new Youngstown mill produces its first pipes

Mon Nov 5, 2012 2:31am EST

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Press release

Vallourec's new Youngstown mill
produces its first pipes

 

Boulogne-Billancourt, November 5, 2012 - Vallourec, world leader in premium tubular solutions, announces the successful production of its first pipes at its new US state-of-the-art mill in Youngstown, Ohio. This new mill, with the creation of 350 direct jobs, will be mainly dedicated to the production of small diameter OCTG[1] to support the long term development of shale oil & gas exploitation in the US.

Following the piercing of the first billet on June 29 and the commissioning of the different equipment of the rolling mill, the first continuous production was achieved on October 26, on schedule for first sales to occur in the beginning of 2013.

With an initial production capacity of 350,000 tons of seamless pipe per year, this new offer will complement the range produced by Vallourec in North America and will consolidate the Group's leadership position as a provider of competitive and fully integrated premium tubular solutions.

The pipe produced in the new Youngstown mill can be equipped with the latest-generation VAMR premium connections dedicated to exploitation in demanding conditions.

 

Vallourec in North America

With over 2,300 people in 19 manufacturing facilities and service operations in the US, Canada and Mexico, Vallourec in North America primarily serves the local Oil & Gas market. Key products include Oil Country Tubular Goods (OCTG), Line Pipe, Drill Pipe and premium threading services of VAMR and Atlas BradfordR . Most other market segments are served by Vallourec's specialized entities in Europe and Brazil.

In 2011, the North American market generated EUR1.4 billion in revenues, representing 26% of Vallourec's total sales.

 

ABOUT VALLOUREC

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 century.

Listed on NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System, Vallourec is included in the following indices: MSCI World Index, 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).

www.vallourec.com

VAMR is a registered trademark of the Vallourec group.

 

FOR FURTHER INFORMATION, PLEASE CONTACT

 

Press relations

Caroline Philips

Tel: +33 (0)1 41 03 77 50

E-mail: caroline.philips@vallourec.fr

 

Investor relations                       

Etienne Bertrand                          

Tel: +33 (0)1 49 09 35 58            

E-mail: etienne.bertrand@vallourec.fr

 

 


[1] Oil Country Tubular Goods





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