September 07, 2008

Vallourec wants to remain independent

French daily La Tribune reported that French steel tube maker Vallourec wishes to remain independent after financier Mr Vincent Bollore acquired a small stake, prompting speculation he could seek to raise his holding.

Mr Pierre Verluca CEO of Vallourec told French daily La Tribune in an interview that Mr Bollore had built a 2% holding, after previously selling his entire stake and called his move a sign of trust in our strategy."

He told that "I confirm that Vallourec has the technical, financial and human means and the will to continue to develop itself on its own.”