VALLOUREC ANNOUNCES THE CREATION OF AN OPERATIONS DEPARTMENT AND STRENGTHENS ITS PROCESS AND ENGINEERING DEPARTMENT
Meudon (France), November 5, 2024 - Since its launch, New Vallourec plan has relied on industrial excellence to enable the premiumization of Vallourec's offerings and solutions. To further the drive towards best-in-class global performance, Vallourec announces the creation of a new Operations Department and a strengthened Process and Engineering Department.
To provide Vallourec with the best technologies and the most efficient and advanced industrial processes, the Process and Engineering Department will henceforth include the Process Communities, the Global Engineering Department, and the Investment Department. Philippe Carlier, as part of the Executive Committee, will lead this department, with the primary mission of enabling Vallourec to deliver its products and services with increasing efficiency.
This Process and Engineering Department will itself be integrated into a new Operations Department headed by Bertrand Frischmann, member of the Executive Committee, who has been appointed as Vallourec's Chief Operations Officer (COO). In addition to North and South American operations, this department will also include the Eastern Hemisphere Industrial Department, and the functions of Purchasing, Supply Chain, Quality and Industrialization, and Operational Excellence.
This organization, which takes effect today, marks a new stage in the implementation of our New Vallourec plan. It aims to better meet our ambition to focus on value over volume, by taking full advantage of the integration of operations and support functions. As part of his new responsibilities, Bertrand Frischmann will be based in Meudon, starting next summer.
Philippe Guillemot, Chairman of the Board of Directors and CEO of Vallourec, stated: "I wanted to put in place this enhanced organizational structure to allow us to further advance the execution of the New Vallourec plan. With a global Operations Department next to me overseeing our strengthened Process and Engineering Department, we will continue the journey of making Vallourec a highly efficient, globally-integrated organization. I am confident in the professionalism and commitment of Bertrand Frischmann, Philippe Carlier, and all of our teams to help make Vallourec a key industrial leader, dedicated to serving its clients.”
About Vallourec
Vallourec is a world leader in premium seamless tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 14,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0013506730, Ticker VK), Vallourec is part of the CAC Mid 60, SBF 120 and Next 150 indices and is eligible for Deferred Settlement Service.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R4074, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
For further information, please contact:
Investor relations
Connor Lynagh
Tel: +1 (713) 409-7842
connor.lynagh@vallourec.comIndividual shareholders
Toll Free number : 0 805 65 10 10
actionnaires@vallourec.com Press relations: Taddeo
Romain Grière
Tel: +33 (0)7 86 53 17 29 romain.griere@taddeo.fr
Nicolas Escoulan
Tel: +33 (0)6 42 19 14 74 nicolas.escoulan@taddeo.fr
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