VALLOUREC : Vallourec, strategic partner of Wintershall, renews and extends its contract with the German oil and gas company
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Vallourec, strategic partner of Wintershall, renews and extends its contract with the German oil and gas company
Boulogne-Billancourt, December 10, 2015
Vallourec, world leader in premium tubular solutions, has recently signed a global contract with the German company, Wintershall Holding GmbH (BASF Group), to renew its position as a strategic partner in premium OCTG products. The new, three-year contract, which contains an option to renew, covers the main countries in which Wintershall operates: Germany, the Netherlands, Libya, Abu Dhabi and, henceforth, Norway.
The agreement concerns the entire range of Vallourec's most advanced tubular solutions for casing and tubing, as well as related accessories. It also includes a comprehensive range of services, such as 24/7 on-site running assistance and the implementation of extensive supply chain solutions leading to cost and cash-flow optimization.
Didier Hornet, Senior Vice President Eastern Hemisphere, who is responsible for Vallourec's oil and gas strategy, said: 'we are very happy to carry on working with Wintershall in the premium OCTG segment. The new contract testifies to the customer's trust in us and its recognition of the work carried out by Vallourec's teams and the quality of our products and services.'
Thanks to this new contract, Vallourec shall take part in the German company's future major projects. In particular the recently approved Maria development in Norway is an integral part of the company's future growth plans. Vallourec's industrial foot print around the world and its regional structure are, therefore, clearly an advantage providing optimal support to Wintershall's expansion.
Finally, this contract is proof of Vallourec's ability to meet its customers' needs as closely as possible, which is also attributable to the implementation of its program, 'Operational Excellence', which strives to achieve greater customer proximity through the introduction of dedicated Key Account Managers (KAM).
Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.
With over 23,000 employees in 2014, integrated manufacturing facilities, advanced R&D, and presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the growing energy challenges of the 21st century.
Listed on the Euronext in Paris (ISIN code: FR0000120354, Ticker: VK) and eligible for the Deferred Settlement Service (SRD), Vallourec is included in the Euronext 100 and SBF 120 indices.
In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R2094; Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
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Source: VALLOUREC via Globenewswire