Vallourec announces its new organization
The seamless tube manufacturer announces a new organization of its activities around four regional centers associated with four new appointments. The speculation about a reconciliation to its Japanese partner Nippon
Steel & Sumitomo Metal Corporation is intensifying.
The producer of seamless steel tubes revises its operational strategy, far organized markets (oil and gas, electric Energy and Industry) announcing Thursday a new organization of its activities around four regional centers (Europe, North America, Eastern Hemisphere and America South), with a view to get closer to its customers and to be more effective: "This new streamlined organization responds to the will of Vallourec strengthen ties with customers and markets, improve efficiency its industrial operations and accelerate the decision-making process, "says
Philippe Crouzet, Chairman of the Board of Vallourec. The four directors regions are part of the "Group Management Committee" and are under the direct responsibility of Philippe Crouzet: Philippe Carlier became Director Europe and also supports the coordination of industrial policy Vallourec, Nicolas de Coignac became Director North America, Didier Hornet is entrusted with the management of the Eastern Hemisphere area (Africa, Middle East, Asia Pacific, North Sea) and Alexandre Lyra was appointed Director of South America.
This new operational organization follows the saving plan unveiled by Vallourec 2015, resulting in 350 million
euros in savings over the period 20152016, or 10% of its costs excluding raw materials, and a reduction of its investment to 350 million per year. Indeed, in an oil very difficult context, the Group net income plunged in 2014 and a net loss of 924 million due to heavy asset impairments ($ 1.1 billion) for a half in Brazil and the other in Europe. Which does not prevent Philippe Crouzet estimate Vallourec able to cross this difficult economic environment by improving its "ability operational ".
Vallourec, whose share price is still at a low of nearly ten years (22.86 euros), continue, meanwhile, to interest future potential buyers. Rumors and speculation in recent weeks focusing more on reconciliation with his partner
Japan's Nippon Steel & Sumitomo Metal Corporation (NSSMC), the two companies already