Vallourec has reached an agreement to acquire thermal insulation pipe coating services provider Thermotite do Brasil for $17.5 million.
Thermotite’s site is located within Vallourec’s own coating services premises in Serra, Esperito Santo State, Brazil. Vallourec expects the acquisition to improve its technical offering for the offshore and deepwater markets.
Chairman Philippe Guillemot said: “Thermotite’s expertise perfectly complements our existing portfolio of anti-corrosion coating solutions, allowing us to offer our customers more complete and tailored line pipe solutions.
“By strengthening our presence in Brazil, a key market for the offshore industry, we are well-positioned to capitalize on the growing demand for premium tubular solutions both in the domestic market and in high-value export markets.”
The transaction remains subject to regulatory approvals.
