Vallourec Confirms Acquisition of Tubular Businesses from Grant Prideco
05/12/2008 - Vallourec announces the granting of all necessary regulatory approvals for its acquisition of the Atlas Bradford Premium Threading, TCA, and Tube-Alloy businesses from Grant Prideco.
Vallourec recently announced the granting of all regulatory approvals required for the acquisition from Grant Prideco of Atlas Bradford® Premium Threading, TCA®, and Tube-Alloy™.
The tubular business units to be acquired from Grant Prideco include:
- Atlas Bradford, recognized in North America as a leading supplier of premium oil country tubular goods (OCTG) connection technology.
- TCA, which specializes in heat treatment operations and markets high grade tubular products with a strong focus on short lead time orders.
- Tube-Alloy, which produces and repairs down-hole tubular accessories for the oil & gas industry, and specializes in complex threading and machining for custom-made orders.
“We are looking forward to welcoming the teams of Atlas Bradford, TCA and Tube-Alloy within our North American operations,” commented Pierre Verluca, Chairman of Vallourec’s Management Board. “We are confident that, with their leading premium technology as well as their excellent customer service, they will bring a strong contribution to further enhance Vallourec's positions in high value-added products."
These three business units had combined sales of US$ 229 million and acquired EBITDA of US$ 74 million for the 12-month period ended 30 September 2007.
Vallourec is a world leader in the production of seamless steel tubes destined primarily for the oil and gas and power generation sectors, and other industrial applications. Based in France, the company employs 18,000 employees worldwide.
