V&M Star helps raise sales of French Vallourec
Recent reports from the industry reveal that French Vallourec raised its consolidated sales to €652million for Q3, which is up by 12% compared to the sales of same period last year. The inclusion of V&M Star from July 1, 2002 has caused such increase. In fact, without the V&M Star accounts, sales in Q3 showed a decrease of 0.9% year on year to €576 million.
Vallourec&Mannesman Tubes acquired 80% stake of North Star Steel tube division a couple of months ago, aiming to raise the market share in the US.
According to analysists, the integration of V&M Star is expected to boost sales in
North America from 14% up to 25% of the group's turnover.