Vallourec, a global leader in premium seamless tubular solutions, has signed a definitive agreement to acquire 100pct of the shares of Thermotite do Brasil Ltda., a subsidiary of Mattr specializing in thermal insulation pipe coating services for the offshore oil and gas sector. The acquisition, valued at USD 17.5 mln, was announced in a press release.
Thermotite’s facility is located within Vallourec’s existing coating services site in Serra, Espirito Santo, Brazil. This acquisition aligns with Vallourec’s premiumization strategy, strengthening its presence across the industry value chain with an integrated industrial setup and enhancing its technical capabilities, particularly for the offshore and deepwater markets. The transaction, subject to customary closing conditions and regulatory approvals, will see Vallourec acquiring 100pct of Thermotite do Brasil’s shares.
