Vallourec takes controlling interest in Chinese tubes manufacturer

Offshore staff

​BOULOGNE-BILLANCOURT, FranceVallourec has closed the acquisition of a majority stake (50.61%) in China’s Anhui Tianda Oil Pipe Co., thereby lifting its total stake to 70.07%.

Tianda, which manufacturer seamless tubes, is listed on the Hong Kong Stock Exchange. Its assets include a PQF rolling mill with 500-kt capacity and a tube heat treatment and threading workshop. The company has 1,500 employees.

Vallourec plans to establish a competitive production hub in China to supply the domestic market and export, particularly to Asia and the Middle East, and aims to develop a wider range of solutions that combine its VAM connections with Tianda’s tubes to sustain market share of VAM connections.

By the end of 2016, Vallourec expects to have 2,000 employees (including TOP’s) in China on five production sites serving both the oil and gas and power generation industries. Last year China accounted for almost 7% of the group’s revenue.

12/02/2016

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...