VALLOUREC

Vallourec controls 99.03% of Tianda Oil Pipe's equity

	Press release

Vallourec controls 99.03% of Tianda Oil Pipe's equity

Boulogne-Billancourt (France), 2 December 2016 - Vallourec, world leader in premium tubular solutions, today announces the success of the mandatory and unconditional cash bid launched on 4 November 2016 for the minority interests of Tianda Oil Pipe (TOP). On 14 November 2016, Vallourec announced it held 70.07% of TOP's equity following the acquisition of a 50.61% controlling stake, it being specified that Vallourec held 19.46% of TOP's equity since 2011.  

Vallourec now holds 99.03% of TOP's equity and will create a new and highly competitive production hub in China to supply a wider range of solutions combining VAM^® connections and Tianda's very competitive tubes to the domestic and export markets.

About Vallourec

Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. Operating in more than 20 countries, its 20,000 dedicated and passionate people work hand-in-hand with their customers to offer more than just tubes: they deliver innovative, safe, competitive and smart tubular solutions, to make every project possible.

Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: SBF 120 and Next 150.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

vallourec.com
Follow us on Twitter @Vallourec

For further information, please contact:

Investor relations                                            Press relations
Etienne Bertrand                                              Héloïse Rothenbühler
Tel: [phone]                                  Tel: [phone]
[e-mail]                       [e-mail]

Individual shareholders
Toll Free Number (from France): 0 800 505 110
[e-mail]
                                              
                                                                                                                                                                    

PDF version

---

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VALLOUREC via Globenewswire