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Vallourec: could sell its drilling products business

(CercleFinance.com) - Vallourec announces that, following exclusive negotiations, it has received a firm offer from the US oil services group, National Oilwell Varco, to buy its drilling products business.

This offer, for a total cash consideration of 63 million dollars, concerns the industrial drilling products business in North America, the Middle East, the Netherlands and France (a factory in Aulnoye-Aymeries).

This draft agreement, which completes the transformation plan for the seamless tubes group, is subject to the approval by the governance bodies and consultation of the relevant staff representative bodies.

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