French steel pipe maker Vallourec mentioned in its first quarter financial report that it is reorganizing its European business structure and downsizing its organization to focus on European operations.
The Group is closing the heat treatment line at Saint Solvay in France and the thread cutting line at Bellshill in Scotland. A fine pipe facility in Germany is also in the process of closing and is expected to be completed within two years.
In 2021, Vallourec decided to spin off its German and other European plants, but has yet to find a buyer.
At the end of 2023, German oil and gas capacities will be transferred to a plant in Brazil with a capital of 110 million euros.
Vallourec decides to close factories in France and Germany
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Azovpromstal® 24 May 2022 г. 10:16 |
