{"id":2581,"date":"2024-09-16T14:58:28","date_gmt":"2024-09-16T14:58:28","guid":{"rendered":"https:\/\/brazil.vallourec.com\/?post_type=news&#038;p=2581"},"modified":"2024-09-26T15:01:35","modified_gmt":"2024-09-26T15:01:35","slug":"vallourec-enhances-its-line-pipe-coating-solutions-with-the-acquisition-of-thermotite-do-brasil","status":"publish","type":"news","link":"https:\/\/brazil.vallourec.com\/en\/news\/vallourec-enhances-its-line-pipe-coating-solutions-with-the-acquisition-of-thermotite-do-brasil\/","title":{"rendered":"Vallourec enhances its line pipe coating solutions with the acquisition of Thermotite Do Brasil"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2581\" class=\"elementor elementor-2581\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cbeba93 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cbeba93\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-53f6948\" data-id=\"53f6948\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f2e75ed elementor-widget elementor-widget-text-editor\" data-id=\"f2e75ed\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Vallourec has entered into a definitive agreement to acquire from Mattr (MATR.TO) 100% of the shares of its subsidiary Thermotite do Brasil Ltda. a specialized provider of thermal insulation pipe coating services for the offshore oil and gas industry. The acquisition price is US$ 17.5 million, on a cash-free, debt-free basis, subject to customary price adjustments (including working capital). <br \/><br \/>Thermotite\u2019s facility is located within Vallourec\u2019s existing coating services premises in Serra, Esperito Santo State, Brazil. This acquisition will support Vallourec\u2019s premiumization strategy, reinforce its presence across the industry value chain with an integrated industrial set up and improve its technical expertise, notably for the offshore and particularly deepwater markets. <br \/><br \/>Philippe Guillemot, Chairman of the Board of Directors, and Chief Executive Officer declared: \u201c<em>This acquisition is a further step forward in our strategy to provide premium integrated solutions for the most challenging offshore projects. Thermotite\u2019s expertise perfectly complements our existing portfolio of anticorrosion coating solutions, allowing us to offer our customers more complete and tailored line pipe solutions. By strengthening our presence in Brazil, a key market for the offshore industry, we are wellpositioned to capitalize on the growing demand for premium tubular solutions both in the domestic market and in high-value export markets.<\/em>\u201d<br \/><br \/>The transaction, under which Vallourec will acquire 100% of the shares of Thermotite do Brazil, is subject to customary closing conditions, including regulatory approvals. Vallourec reiterates its previously stated targets to deleverage further in the second half of 2024 and to commence shareholder returns in 2025 at the latest. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":2031,"template":"","meta":{"_acf_changed":false},"categories":[86],"tags":[],"class_list":["post-2581","news","type-news","status-publish","has-post-thumbnail","hentry","category-press-release-en"],"acf":[],"yoast_head":"<title>Vallourec enhances its line pipe coating solutions with the acquisition of Thermotite Do Brasil - Brazil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/brazil.vallourec.com\/en\/news\/vallourec-enhances-its-line-pipe-coating-solutions-with-the-acquisition-of-thermotite-do-brasil\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vallourec enhances its line pipe coating solutions with the acquisition of Thermotite Do Brasil - 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