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Vallourec additionally stated it might shut its warmth remedy line in Saint-Saulve in France and a web site in Scotland.
The agency, which in November introduced plans to eliminate its German property and relocate its oil and fuel actions to Brazil, stated the closure course of in Germany would happen over the following two years and embody the sale of the land and buildings.
Vallourec stated in a name with journalists that the restructuring would end in 2,400 job losses in Germany, and an extra 550 in the remainder of the world, of which over 300 could be in France.
The corporate up to date its core revenue expectations for the yr, seeing them “considerably above” 2021 ranges, in opposition to a earlier outlook of “additional enchancment”.
Vallourec reported first-quarter earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA)of 45 million euros ($47.15 million), down from 80 million a yr earlier.
($1 = 0.9545 euros)
(Reporting by Olivier Sorgho; modifying by Kirsten Donovan and Leslie Adler)
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