VALLOUREC AND ASMO SIGN A STRATEGIC PARTNERSHIP
21 October 2024 - 4:30PM
VALLOUREC AND ASMO SIGN A STRATEGIC
PARTNERSHIP
Meudon (France), October 21, 2024
– Vallourec, a world leader in premium seamless tubular
solutions, announces the signing of a Memorandum of Understanding
(MoU) with Advanced Supply Management Operations (ASMO), a joint
venture between DHL and Aramco (through the Saudi Aramco
Development Company). ASMO is the first-of-its-kind procurement and
supply chain services hub in Saudi Arabia, serving the energy,
chemical, and industrial sectors across the MENA region.
Incorporated in 2024, ASMO will deliver a
comprehensive range of end-to-end supply chain services, including
sourcing, procurement, inventory management, logistics,
warehousing, and a Business-to-Business e-marketplace. Focused on
leveraging cutting-edge technology and driving digitalization, ASMO
aims to transform supply chain management operations and create
value for companies across the region.
Being over the first companies to sign such an
MOU with ASMO demonstrates that Vallourec is identified as a key
partner in the Oil and Gas industry in Saudi. It also
positions Vallourec at the forefront of a new leading supply chain
service provider that will create value for companies in the
energy, chemical, and industrial sectors in the MENA region.
Laurent Dubedout, Senior Vice President of OCTG,
Services and Accessories and Executive Committee member at
Vallourec, declared: “Vallourec is honored to be selected among the
very first partners of ASMO. This testifies to the trust and
reliability of Vallourec in Saudi Arabia and aligns with
Vallourec's ambition toward the digitalization of pipe supply chain
management. This is an important milestone to reinforce our
presence in the region.”
The signing was held in Dammam in the presence
of Salem Al Huraish, ASMO Chairman of the Board, and Craig Roberts,
CEO of ASMO.
About Vallourec
Vallourec is a world
leader in premium 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 LynaghTel: +1 (713)
409-7842connor.lynagh@vallourec.com
Individual shareholders:Toll Free number (From
France): 0 805 65 10 10actionnaires@vallourec.com
Press relations: TaddeoRomain GrièreTel: +33
(0)7 86 53 17 29romain.griere@taddeo.fr
Nicolas EscoulanTel: +33 (0)6 42 19 14
74nicolas.escoulan@taddeo.fr
- Vallourec_Press Release_ASMO Strategic Partnership
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