France-based pipe manufacturer Vallourec has announced that it has reached an agreement with Netherlands-based industrial real estate developer CTP to sell its about 900,000-square meter production site in Germany.
Accordingly, the Düsseldorf-Rath site, which Vallourec used for primary tube operations in Germany before its closure at the end of 2023 as part of the company’s restructuring plan that foresees the sale of all the major European assets, will be transferred to CPT for €155 million. The transaction is expected to be completed around the year-end, subject to regulatory approvals.