Continues today … Valourec-20 March 21, 2010 08:14

vallourec 2 (Photo provider :)

vallourec 2 (Photo provider 🙂

(AOF) – Vallourec has appointed Philippe Guillemot as CEO to replace Edouard Guinotte. Philippe Guillemot was the CEO of the Elior Group until recently. He was previously the Director of Operations and Sales at Alcatel-Lucent and the Managing Director of Europcar.

In a press release, Vallorec shows that Philippe Guillemot is responsible for accelerating the execution of a company’s global strategic plan by supporting the logic of “value for quantity” and significantly lowering the company’s break-even point. I am. For cost savings, operational efficiency, and new business practices to enable companies to pursue profitable growth.

At the end of this process, by the end of 2023, Vallorec will be transformed and better prepared to manage the evolution of the complete business cycle.

AOF-Details

Key Point

-Co-world leader with Tenaris in the seamless steel pipe market (12% market share) and world leader in premium tubular solutions.

-Sales of 4.2 billion euros, oil / gas / petrochemical sector (73%), more than industry (22%), electrical energy, 29% of revenue from Asia-Middle East, 29% am. From North America, 17% from South America, 14% from Europe.

-New three-pillar economic model: a transformation plan to reduce capacity in Europe, strengthen presence in two Americas, the Middle East and Southeast Asia, and improve competitiveness.

-Capital that cannot be operated due to the existence of BPI and Nippon Steel (14.56% each). The 13 Audit & Supervisory Board is chaired by Vivienne Cox and chaired and Chief Executive Officer by Édouard Guinotte.

-The balance sheet was cleaned up with a capital increase of € 300 million, with net liabilities of € 720 million, equity of € 1.6 billion and cash of € 1.2 billion at the end of June 2021.

Task

-An “accelerating” strategy for profitable growth with outstanding industry and more efficient support functions, with a total savings of € 200 million from 2021 to 2010.

-Innovation strategies supported by 6 R & D centers for the following purposes:

-Leverage the technical benefits (VAM connectivity) and digital solutions distributed to customers via the Smartengo Vallourec.smart platform,

-Meet the challenges of lightness in industry, power plant efficiency in electrical energy, and transportation and storage complexity in oil and gas.

-Environmental Strategy on CDP’s A list and validated in two parts by SBTi: Geothermal Energy, Offshore Wind, Carbon Recovery and Storage, Hydrogen Energy Transfer Solutions for “Significant Increase in Sales” Offers 2020-30 inches / Impact reduction: 40% of renewable energy, 96% of recovered waste, 43% of steel by recycling.

-Productivity of three major industrial sites: Youngstone in the United States, and therefore the competitive advantage of the group supported by increased tariffs on steel, Brazil’s VSB, and China’s Tianda.

-Continuous contract acquisition and business portfolio optimization.

-Develop competitive routes between Brazil and China. Tube production of 500kt is expected in 2024 compared to 300kt in 2019.

Task

-Sensitivity to crude oil prices and the euro’s equivalence to the Brazilian real and the dollar.

-Pandemic Impact: Revenues fell 9% at the end of June 2021, industrial health did not offset the decline in revenues from the oil and gas and power generation sectors, and a sharp decline in net losses was € 42. It has decreased. One million.

Metals involved in “super cycle”

Some experts use this term to refer to price changes over the next few years. Copper and aluminum, which play a central role in decarbonization policies, present significant investment needs. Copper production is expected to decline in 2023 if new mines are not explored.

Achieving the goals of the Paris Agreement will increase the demand for minerals six-fold by 2040. The International Energy Agency (IEA) estimates that the limited supply of important minerals such as lithium and nickel threatens energy conversion. The investment period is long, as it takes an average of 16 years or more from discovery to the first production of a mining project.

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