Vallourec: acquires Thermotite do Brasil

(CercleFinance.com) - Vallourec reports that it has reached a definitive agreement with Mattr to acquire its subsidiary Thermotite do Brasil Ltda, which specializes in thermal insulation coating services for pipelines in the offshore oil and gas industry.


This acquisition will reinforce Vallourec's strategy of moving upmarket, integrating this expertise into its industrial value chain, while enhancing its technical expertise for offshore markets, particularly in deep waters, it says.

The acquisition cost $17.5m, excluding debt and cash, subject to customary price adjustments (including working capital). The transaction is subject to customary closing conditions, including regulatory approvals.


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