Vallourec to sell Düsseldorf-Rath plant

The agreement involves the sale of the approximately 900,000 square meter facility for EUR 155 million. The sale under the agreement is expected to be completed by the end of 2024, subject to customary closing conditions, such as CTP's receipt of a waiver of pre-emption rights from the city.

Philippe Guillemot, Chairman of the Board of Directors, and Chief Executive Officer of Vallourec stated his thoughts on the agreement; “We are pleased to announce another deal with CTP, who has proven to be a reliable partner in the streamlining of our German asset base. This transaction marks a major milestone for Vallourec, as we have now finalized the closures and sales of all of the major European assets targeted by the New Vallourec plan in less than three years. As a reminder 80 to 100% of cash flows generated in the second half of 2024, including the proceeds from the sale of this facility, will be eligible for return to shareholders. I would like to thank the Vallourec team and CTP for the successful delivery of this important transaction.”