Oct. 03, 2016

Nippon Steel & Sumitomo Metal Corporation

NSSMC and Vallourec, merged the Pipe and Tube Business in Brazil


In the release titled 'Enhancement of Strategic Partnership with Vallourec' on February 1, 2016, Nippon Steel & Sumitomo Meal Corporation ('NSSMC') announced the expansion of business cooperation with Vallourec S.A., an important strategic partner in the pipe and tube business. On this occasion, we are pleased to announce that the businesses of Vallourec & Sumitomo Tubos do Brasil Limitada ('VSB'), which is a joint venture of Vallourec Group, NSSMC Group and Sumitomo Corporation, and is a Brazilian seamless pipe manufacturing company, and Vallourec Tubos do Brasil S.A. ('VBR'), which is Vallourec's fully-owned subsidiary of a seamless pipe manufacturing and sales company in Brazil, merged on October 1, 2016 to become a new company Vallourec Soluções Tubulares do Brasil S.A. ('VSB').

【Overview of the merged company】

Company name: Vallourec Soluções Tubulares do Brasil S.A. ('VSB')
Head Office:
 Belo Horizonte, Minas Gerais in Brazil
Ownership: Vallourec Group 84.6%, NSSMC Group 15.0%,
Sumitomo Corporation 0.4%
Effective date: October 1, 2016
CEO: Alexandre Lyra
Seamless pipe
manufacturing capacity: 		1.10 million tons p.a.
Employees:
 Approximately 5,500
The new company plans to enhance profitability by taking measures such as to rationalize upstream manufacturing capacity and streamline the administrative functions.

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Nippon Steel & Sumitomo Metal Corporation published this content on 03 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 03 October 2016 06:57:03 UTC.

Original documenthttp://www.nssmc.com/en/news/20161003_300.html

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