Vallourec completes purchase of majority stake in China’s Anhui Tianda Oil Pipe

Tuesday, 15 November 2016 16:19:00 (GMT+3)   |   Istanbul
       

France-based tube and pipe producer Vallourec has announced that it has closed the acquisition of a 50.61 percent stake in Chinese seamless pipe manufacturer Anhui Tianda Oil Pipe (TOP) and has thereby increased its total stake to 70.07 percent.
 
According to the company’s statement, the acquisition of the majority stake of Anhui Tianda Oil Pipe (TOP) will enable Vallourec to create a new and very competitive production hub in China to supply the domestic market and to export, particularly to Asia and the Middle East.
 
“The integration of Anhui Tianda Oil Pipe fulfills a long-term strategic vision. By combining Vallourec's leadership in premium solutions with TOP's highly competitive operations, we are able to offer a wide range of competitive products that are perfectly suited to our customers’ current needs and challenges,” stated Philippe Crouzet, chairman of Vallourec’s management board.

Similar articles

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

Chinese steel pipe export offer prices edge down slightly

27 Mar | Tube and Pipe

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

US HSS prices revise downward yet again due to soft HRC prices

25 Mar | Tube and Pipe

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News