Vallourec announces that it has signed a contract for the sale of its German site in Mülheim to real estate developer CTP, after the Mülheim city council waived its right of pre-emption.

This transaction involves the sale of a property of around 330,000 square meters for a sale price equivalent to 39 million euros, of which approximately 37 million should be received within two weeks.

This transaction supports our short-term debt reduction ambitions and our objective of achieving zero net debt by the end of 2025 at the latest", explains Philippe Guillemot, CEO of the seamless tube manufacturer.

For the end of 2023, the CEO anticipates net debt of less than 741 million euros, excluding proceeds from asset disposals, which will represent five consecutive quarters of debt reduction.

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