Vallourec : Update on the financial restructuring
The health crisis caused the price of oil to fall due to falling demand. In view of the contraction of investments in the oil sector and thus the deterioration of its results, Vallourec announced in September 2020 the appointment of a mandataire ad hoc in order to achieve financial restructuring. - On February 3, 2021, the group announced that it had reached an Agreement in Principle with a majority of its creditors. This agreement, supported by the two reference shareholders Bpifr...Vallourec SA is a France-based company, which specializes in the production of seamless and welded steel tube products for industrial applications. It operates through two segments: Seamless Tubes and Specialty Products. For the oil and gas industry, it designs and develops a comprehensive range of products including seamless tubes and connections for drilling operations, line pipes and well equipment. For the power generation market, it offers tubes that withstand severe temperature and pressure conditions. Its solutions enable power companies to meet the challenges of energy efficiency and reduce CO2 emissions in power plants. It also offers a wide range of tubes for petrochemical installations (refineries), for mechanical engineering applications (hydraulic cylinders and machine tools), for the automotive industry, for construction (stadiums, other complex buildings and structures) and for various other industrial sectors. It operates through Vallourec Solucoes Tubulares do Brasil.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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