Vallourec to sell Düsseldorf-Rath site (Germany) for €155 Million
VALLOUREC TO SELL DÜSSELDORF-RATH SITE (GERMANY) FOR €155 MILLION
Meudon (France), December 16, 2024 – Vallourec, a world leader in premium seamless tubular solutions, announces today that it has entered into an agreement to sell the substantial majority of its Düsseldorf-Rath production site to CTP, Europe’s largest publicly-listed industrial property developer.
This transaction involves the sale of the approximately 900,000 square meter property for €155 million. This property was the site of Vallourec’s primary tube production operations in Germany, which was closed at the end of 2023 as part of the New Vallourec plan. The transaction is expected to close around year-end 2024, subject to customary closing conditions, including CTP’s receipt of the waiver of the City’s preemption right.
Philippe Guillemot, Chairman of the Board of Directors, and Chief Executive Officer commented: “We are pleased to announce another deal with CTP, who has proven to be a reliable partner in the streamlining of our German asset base. This transaction marks a major milestone for Vallourec, as we have now finalized the closures and sales of all of the major European assets targeted by the New Vallourec plan in less than three years. As a reminder 80 to 100% of cash flows generated in the second half of 2024, including the proceeds from the sale of this facility, will be eligible for return to shareholders. I would like to thank the Vallourec team and CTP for the successful delivery of this important transaction.”
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 14,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact:
Investor relations:
Connor Lynagh
Tel: +1 (713) 409-7842
connor.lynagh@vallourec.com
Individual shareholders:
Toll Free number (From France): 0 805 65 10 10
actionnaires@vallourec.com
Press relations: Taddeo
Romain Grière
Tel: +33 (0)7 86 53 17 29
romain.griere@taddeo.fr
Nicolas Escoulan
Tel: +33 (0)6 42 19 14 74
nicolas.escoulan@taddeo.fr
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