Conversion of Mandatory Convertible Bonds of Vallourec (France), subscribed by NSSMC, to Ordinary Shares
Jun. 21, 2016
Nippon Steel & Sumitomo Metal Corporation
Conversion of Mandatory Convertible Bonds of Vallourec (France),
subscribed by NSSMC, to Ordinary Shares
NSSMC has the right to present a candidate for a Supervisory Board member of Vallourec, who will be proposed for approval at Vallourec’s next shareholders meeting. Upon the election of NSSMC’s representative, NSSMC plans to account for its investment in Vallourec using the equity method of accounting, starting from fiscal year 2017.
<Overview of Vallourec>
Company Name: | Vallourec S.A. |
Location: | France, Paris |
Shareholders: | Banque Publique d’Investissement (Bpifrance) 15%, NSSMC 15%, Group Employees 3.0% or less, Caisse des Dépôts et Consignations (CDC) 1.7%, Treasury Shares 0.4%, Others 65% or less (as of June 20, 2016) |
Establishment: | 1899 |
Business: | Manufacturing and sales of seamless pipes |
Share Capital: | EUR 271 million |
Capacity: | 2.9 million tons p.a. (in 2015) |
Employee: | Over 20,000 (in 2015) |
For inquiries: Public Relations Center Tel.: +81-3-6867-2977