French pipe manufacturer Vallourec has announced that it has entered into exclusive negotiations with local investment company Aldebaran to sell its subsidiary Serimax, specializing in mechanized welding solutions, for 79 million euros.
The sale is expected to be completed in the next few months.
This transaction is part of Vallourec's new plan, which aims to grow its core business as a provider of premium seamless pipe solutions. As part of the implementation of the new Vallourec plan, Serimax has undergone a rapid transformation and is currently operating profitably as an independent company.
Serimax's revenue in 2012 was about 105 million euros by 2024.
