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Valinox Nucleaire will supply nickel pipe

7 April 2015

Valinox Nucleaire, a subsidiary of the French company Vallourec, won the tender Areva. Now Valinox Nucleaire will supply nickel tubes for steam generators 8-fitted on Electricite de France's nuclear reactors. The program for the replacement of large components for nuclear reactors, was initiated by Electricite de France in 2011. In this program, Vallourec, as the main supplier of tubular products, play a key role.

Terms of the contract signed after the tender, envisage the supply side Valinox Nucleaire 42,4 thousand. Nickel tubes. Production at the plant will be «Montbard» in the Burgundy region over the 2016−2017 period. Nicolas de Coignac, senior vice president of the company Vallourec, noted the importance of this agreement to strengthen relations with Areva. In addition, it shows the possibility of Vallourec for the French nuclear industry.

At the same time 2014 ended for Vallourec not too good. As one of the leading manufacturers of steel pipe products, the company posted a loss of $ 924 million. EURO. Before that, in 2013, the company's net profit amounted to 262 million. EURO. In January, Vallourec has written off about 1−1.2 billion. EURO, which corresponds to 1,1−1,35 bln. USD, for pipe assets. This decision was made as a result of lower demand from the oil sector against the backdrop of the collapse of oil prices. Despite the increase in annual sales by 2.2% to reach 5.701 billion. EURO, EBITDA for the year decreased by 7.1% to 855 million. EURO. Operating costs amounted to 661 million Vallourec. EURO, whereas a year earlier the income reached the level of 534 million. EURO. The volume of shipped steel pipes in 2014 increased by 7.6% to reach 2.323 million. Tons.

Philippe Crouzet, Chairman of Vallourec Management Board, said the company's readiness to difficulties in 2015. According to him, the beginning of the year showed significant instability. Two-thirds of the company's sales are in the oil and gas sector. According to preliminary estimates, in 2015 the cost of this sector on the part of oil will be reduced by 15%. The company has developed a plan for a two-year savings. In accordance with layoffs amount to 7% of the state, ie, 1.4 thousand. Workers. It is also planned to reduce costs in the 2015−2016 biennium. in the amount of 350 million. EURO.

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