Vallourec to strengthen its existence in Asia

Vallourec to strengthen its existence in Asia

According to recent statement released from French seamless tube producer Vallourec, company's subsidiary Valtimet has recently signed an agreement with South Korean copper producer Poongsan Corporation to build a joint venture company in South Korea. The new company will produce welded stainless steel and titanium tubes using Valtimet technology. The company, which will be named as Poongsan Valinox will be equally shared between Valtimet and Poongsan. With this agreement, Vallourec aims to consolidate its existence in Asian market, while Poongsan will improve its competitiveness in titanium tubing production. Moreover, Valtimet's Chinese subsidiary Changzhou Valinox Great Wall plans to triple its production capacity. Through these two projects, Vallourec expects to reach its aims regarding Asian market.