Maritime Jobs
Friday, May 24, 2024

Vallourec to Close Sites in Germany, France, and Scotland, with 2950 Jobs Set to Be Lost

May 19, 2022

Credit: Vallourec (File image)

Credit: Vallourec (File image)

Vallourec is starting a process to close its German manufacturing sites as it had failed to find a "credible" buyer for the assets, the French steel pipe maker said on Wednesday.

Vallourec also said it would close its heat treatment line in Saint-Saulve in France and a site in Scotland.

The firm, which in November announced plans to dispose of its German assets and relocate its oil and gas activities to Brazil, said the closure process in Germany would take place over the next two years and include the sale of the land and buildings. 

Vallourec said in a call with journalists that the restructuring would result in 2,400 job losses in Germany, and a further 550 in the rest of the world, of which over 300 would be in France.

The company updated its core profit expectations for the year, seeing them "significantly above" 2021 levels, against a previous outlook of "further improvement."

Vallourec reported first-quarter earnings before interest, tax, depreciation and amortisation (EBITDA)of 45 million euros ($47.15 million), down from 80 million a year earlier.

($1 = 0.9545 euros)


($1 = 0.9545 euros)


(Reporting by Olivier Sorgho; editing by Kirsten Donovan and Leslie Adler)

Featured Jobs

Provisional Ferry Mechanic

GOLDEN GATE BRIDGE, HIGHWAY AND TRANSPORTATION DISTRICTLarkspur, CA, United States

Ferry Maintenance Planner

GOLDEN GATE BRIDGE, HIGHWAY AND TRANSPORTATION DISTRICTLarkspur, CA, United States

Captain - Near Coastal

Texas A&M University at GalvestonGalveston, TX, United States

Damage Control Officer- Mixed Work Schedule

Military Sealift CommandNorfolk, VA, USA

Chief Steward

Military Sealift Command

Featured Employers

GOLDEN GATE BRIDGE, HIGHWAY AND TRANSPORTATION DISTRICT

Based in San Francisco, the District consists of three operating divisions including Bridge, Bus, an

Military Sealift Command

The Military Sealift Command (MSC) is a United States Navy organization that controls most of the re

Atlantic Container Line

ACL is a specialized transatlantic carrier of containers, project and oversized cargo, heavy equipme