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Vallourec Closes Acquisition of 19.5% of Tianda Oil Pipe
04/04/2011 - Vallourec has completed the acquisition of 19.5% of the share capital of Tianda Oil Pipe Company, a Chinese manufacturer of OCTG.
Vallourec has completed the acquisition of 19.5% of the share capital of Tianda Oil Pipe Company Limited.
The transaction, which was subject to approval by shareholders of Tianda Oil Pipe and regulatory approvals by Chinese and Hong Kong authorities, was achieved through a reserved capital increase.
Listed on the Hong Kong stock exchange, Tianda Oil Pipe is a Chinese seamless pipe manufacturer of oil country tubular goods (OCTG). A cooperation agreement provides for VAM Changzhou, a Vallourec company, to thread pipes from Tianda Oil Pipe locally to serve the domestic Chinese premium OCTG market.
Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications. The company has over 20,000 employees, integrated manufacturing facilities, advanced R&D, and a presence in more than 20 countries.
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