Vallourec and Açotubo announce cold drawn tube joint venture

Tuesday, 26 October 2021 22:12:03 (GMT+3)   |   Sao Paulo
       

French-based tube maker Vallourec and Açotubo Group have set up a joint venture (JV) for cold drawn steel tube, Vallourec Brazil said.

The new company, Vallourec Tubos para Indústria (VTI), will combine Vallourec’s drawn and profile tubes division with Açotubo’s cold drawn tubes business. VTI will focus on providing steel tubes and tube solutions for the industrial segment, with an interest in the automotive, energy, machinery and industrial equipment businesses.

Vallourec will own a 75 percent stake at VTI, while Açotubo will own the remaining 25 percent stake. VTI’s headquarters will be located in Minas Gerais state, in addition to two Sao Paulo state plants.

The new company, VTI, will have a capacity to cold drawn between 60,000 mt/year to 70,000 mt/year of seamed and seamless tubes. It may also provide cutting, bending and tube transforming services into parts and components. VTI will focus its output in the domestic market, Vallourec said.


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