Vallourec, a global leader in seamless tubular solutions, has announced an agreement to sell the majority of its Dusseldorf-Rath production site to CTP, Europe’s largest publicly-listed industrial property developer.
The deal includes the sale of the 900,000-square-meter property for EUR 155 mln (USD 163 mln). This site previously housed Vallourec’s primary tube production operations in Germany, which were shut down at the end of 2023 as part of the company’s “New Vallourec” plan. Introduced in 2022, this strategy focuses on strengthening Vallourec’s core premium markets, streamlining operations, and enhancing its long-term resilience and growth prospects.
The transaction is expected to close by the end of 2024, pending customary conditions, including the waiver of the City of Dusseldorf’s preemption rights.
A world leader in its markets, Vallourec provides benchmark tubular solutions for the energy sectors and for other applications, including some of the most demanding: from oil and gas wells in extreme conditions to next-generation power plants to daring architectural projects and extremely high-performing mechanical equipment.
1 USD / 0.95 EUR
