-(220-x-200-px)-(130-x-130-px)-(220-x-200-px).jpg?lang=en-US&ext=.jpg)
.gif?width=200&height=200&mediaprotectionhash=ddb07947ad3b4ab959a83714461eccd5c6895f370695eb035a9ff7aa736f8ad9&ext=.gif)
Vallourec & Mannesmann Tubes Invests in Changzhou Hi-tech District
06/29/2010 - Vallourec & Mannesmann Tubes recently signed an agreement with the Changzhou National Hi-tech District Administrative Committee to invest USD $289 million to implement a phase II expansion project with annual production capacity of 60,000 tonnes of wide-bore, heavy-walled seamless steel piping.
French company Vallourec & Mannesmann Tubes recently signed an agreement with the Changzhou National Hi-tech District (CND) Administrative Committee to invest USD $289 million to implement a phase II expansion project with annual production capacity of 60,000 tonnes of wide-bore, heavy-walled seamless steel piping.
The project is expected to go into production in 2013.
Vallourec & Mannesmann Tubes has funded four enterprises in CND, in eastern China's Jiangsu province, since 1996. These companies are Changzhou Valinox Great Wall Welded Tube Co., Ltd.; V&M (Changzhou) Co., Ltd.; VAM (Changzhou) Oil & Gas Premium Equipments Co., Ltd.; and Changzhou Carex Valinox Components Co., Ltd.
To date, the company has invested more than USD $170 million in Changzhou.
The French company says the expansion is in response to the quickly growing needs of China's supercritical and super-supercritical power plants; it will allow the company to better provide China with high-heat- and high-pressure-resistant, thick-walled, high-alloy seamless steel pipes. Vallourec & Mannesmann Tubes has decided to produce that kind of piping at V&M (Changzhou) Co., Ltd.
Zhang Weiguo, Deputy Provincial Governor, represented the provincial government in congratulating Vallourec & Mannesmann Tubes on the implementation of the phase II project in CND. "As an important manufacturing and production base in Jiangsu province, Changzhou…has attracted many multinational companies and a great amount of investment in its projects,” he said. “The increase of investment represented by this project exemplifies Vallourec & Mannesmann Tubes' foresight and boldness, and also serves as proof of the willingness of Changzhou's municipal and district government to work with, nurture, and help businesses to grow.”
Other multinational companies that have settled in CND include Saint-Gobain, George Fisher, Terex, Ashland Chemical, Polynt Group, Nippon Steel Corp., Rieter Textile Instrument, Leoni Electronics, Kymco Motors, Komatsu, Bridgestone, Fujitsu, and Fuji Heavy Industry.
Vallourec & Mannesmann Tubes is the largest producer of steel pipes in the world. The company's products include natural gas, electricity, automobiles, and machinery. In 2008, annual production of the group's seamless steel pipes reached 3 million tonnes, and sales reached 6.44 billion euro.
