NSSMC and Vallourec, merged the Pipe and Tube Business in Brazil
Oct. 03, 2016
Nippon Steel & Sumitomo Metal Corporation
NSSMC and Vallourec, merged the Pipe and Tube Business in Brazil
In the release titled “Enhancement of Strategic Partnership with Vallourec” on February 1, 2016, Nippon Steel & Sumitomo Meal Corporation (“NSSMC”) announced the expansion of business cooperation with Vallourec S.A., an important strategic partner in the pipe and tube business. On this occasion, we are pleased to announce that the businesses of Vallourec & Sumitomo Tubos do Brasil Limitada (“VSB”), which is a joint venture of Vallourec Group, NSSMC Group and Sumitomo Corporation, and is a Brazilian seamless pipe manufacturing company, and Vallourec Tubos do Brasil S.A. (“VBR”), which is Vallourec’s fully-owned subsidiary of a seamless pipe manufacturing and sales company in Brazil, merged on October 1, 2016 to become a new company Vallourec Soluções Tubulares do Brasil S.A. (“VSB”).
【Overview of the merged company】
| Company name: | Vallourec Soluções Tubulares do Brasil S.A. (“VSB”) |
| Head Office: | Belo Horizonte, Minas Gerais in Brazil |
| Ownership: | Vallourec Group 84.6%, NSSMC Group 15.0%, Sumitomo Corporation 0.4% |
| Effective date: | October 1, 2016 |
| CEO: | Alexandre Lyra |
| Seamless pipe manufacturing capacity: | 1.10 million tons p.a. |
| Employees: | Approximately 5,500 |
The new company plans to enhance profitability by taking measures such as to rationalize upstream manufacturing capacity and streamline the administrative functions.
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