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Vallourec revs up steel pipe output to tap power sector boom
By Richard Fu |
September 14, 2012, Friday
|
Online Edition
Online Edition
French steel-tube maker Vallourec has quadrupled the production capacity of its plant in Changzhou, Jiangsu Province to meet the rising demand from China's power industry.
Vallourec invested 160 million euro (US$207 million) to expand its plant and raise annual output capacity to 60,000 tons from 15,000 tons.
Vallourec Chairman Philippe Crouzet said at an inauguration event in Changzhou yesterday that the demand for steel pipes will be underpinned by the fast growth of China's power industry and development of a nascent shale gas sector.
The company's Chinese clients who accounted for 5 percent of its global sales last year include power suppliers Huneng and Huadian and oil producers such as Sinopec.
Vallourec invested 160 million euro (US$207 million) to expand its plant and raise annual output capacity to 60,000 tons from 15,000 tons.
Vallourec Chairman Philippe Crouzet said at an inauguration event in Changzhou yesterday that the demand for steel pipes will be underpinned by the fast growth of China's power industry and development of a nascent shale gas sector.
The company's Chinese clients who accounted for 5 percent of its global sales last year include power suppliers Huneng and Huadian and oil producers such as Sinopec.
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