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Vallourec SA (VLLP.PA)

VLLP.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Vallourec supplies seamless tubes for the Canopy of Les Halles in Paris
Monday, 4 Apr 2016 08:00pm EDT 

Vallourec SA:Vallourec supplies seamless tubes for the Canopy of Les Halles in Paris.  Full Article

Vallourec signs contract with ADNOC
Wednesday, 30 Mar 2016 02:45am EDT 

Vallourec SA:Signs a contract with Abu Dhabi National Oil Company (ADNOC) to supply OCTG during 2016-2018 period to its three operating companies.Will supply a full range of standard API and premium OCTG for both onshore and offshore oilfields.  Full Article

Vallourec announces new credit facility of 450 million euros
Wednesday, 30 Mar 2016 02:03am EDT 

Vallourec SA:New credit facility of 450 million euros, extension of an existing credit facility and enlargement of the syndicate of banks for the intended rights issue.Agreement for an additional revolving credit facility for an amount of eur 450 million, maturing in Feb. 2020.This facility is subject to a covenant to maintain a gearing ratio of a maximum of 75 pct, similar to Vallourec's other bank facilities.The new 450 million euro credit facility will become available subject to the closing of Vallourec's contemplated rights issue and a total capital increase in an amount approximately equal to the 1 billion euros previously announced.In addition, Vallourec has reached an agreement to extend by three years its existing bilateral revolving credit facility with J.P. Morgan for its US subsidiary Vallourec Star, LP in an amount of $80 million.  Full Article

Vallourec gives 2016 and 2020 guidance and confirms no dividend for 2015
Thursday, 18 Feb 2016 11:45am EST 

Vallourec SA:Says 2016 full year EBITDA targeted to be below that of 2015.Says 2016 free cash flow targeted to be negative at around minus 600 million euros with capex capped at 200 million euros.Says 2016 net debt not to exceed 1.5 billion euros after capital increase, Tianda acquisition and VSB-VBR merger.Confirms it will not pay 2015 dividend.Says targets EBITDA of around 1.2 billion to 1.4 billion euros in 2020.Says targets normalized free cash flow at 500 million euros to 600 million euros in 2020.  Full Article

Vallourec SA cuts investments further after 2015 net loss - Reuters
Thursday, 18 Feb 2016 06:04am EST 

Vallourec SA:Vallourec, which supplies oil and gas companies, reported a 2015 net loss, cut investments for the second consecutive year and said on Thursday that it expected adverse market conditions to persist throughout 2016 - RTRS.Vallourec said it slashed 3,500 jobs in 2015 as revenue from its core oil, gas and petrochemicals business tumbled nearly 38 percent.A sustained fall in oil prices, down around 70 percent since 2014, has forced oil and gas companies to make drastic cuts to project budgets, putting a squeeze on suppliers like Vallourec."In 2015, Vallourec faced an extremely difficult business environment, characterized by major exploration and production capex cuts by its customers," Chief Executive Officer Philippe Crouzet said in a statement.  Full Article

Vallourec announces job cuts and to not pay dividend for FY 2015
Monday, 1 Feb 2016 01:30am EST 

Vallourec SA:Says new job cuts involve about 500 posts in france, confirms no site closure in France.Says won't pay dividend on 2015 results.  Full Article

Technip and Serimax, a Vallourec subsidiary, enter into strategic partnership for pipeline welding
Monday, 11 Jan 2016 12:00pm EST 

Technip:Serimax, a Vallourec SA subsidiary, and Technip, to enter into a strategic partnership for pipeline welding.‍Technip would acquire a minority stake in serimax.  Full Article

Vallourec ‍renews and extends contract with Wintershall​
Thursday, 10 Dec 2015 02:30am EST 

Vallourec SA:‍Renews and extends its contract with German oil and gas company Wintershall.  Full Article

Vallourec signs a five-year framework contract with Total
Tuesday, 24 Nov 2015 02:31am EST 

Vallourec SA:Signs five-year framework contract with Total SA to meet its OCTG requirements.  Full Article

Vallourec awarded new order for premium drilling products
Thursday, 15 Oct 2015 02:30am EDT 

Vallourec SA:Wins new order for premium drilling products.Contract for delivery of 12 drill strings in sour service grade.Drill strings will be delivered to Abu Dhabi starting mid- 2016 to beginning of 2017.  Full Article

BRIEF-Vallourec says merges its two Brazilian companies

* Co holds majority stake of 84.6% in vallourec soluções tubulares do brasil, nippon steel & sumitomo metal corp 15%, and sumitomo corp 0.4%.