| July 2014 |
Vallourec wins an order for nuclear power plant tubes in China and obtains qualification for the new Chinese reactor ACP1000
(Scroll down at the end of the press release for photos)
Boulogne-Billancourt, 17 July 2014 - Vallourec, world leader in premium tubular solutions, announces that its subsidiary Valinox Nucléaire, which specialises in tubes for nuclear power plants, has won a contract to supply tubes for the Chinese nuclear reactors Fuqing 5 and 6, in Fujian province. This contract represents 750 kilometres of tubes intended for the steam generators of the plant`s two units operated by CNNC (Chinese National Nuclear Corporation).
Qualification for the new Chinese standard reactor ACP1000
This contract enables Valinox Nucléaire to obtain its qualification for the new Chinese reactor design, the ACP1000. By broadening its offer and experience, Vallourec will benefit from the new reactor`s potential, which will become a standard for the Chinese domestic market and for export. This third-generation pressurized water reactor, which has a capacity of 1,100 MW, was developed entirely in China by CNNC.
Nicolas de Coignac, Vallourec`s Director in charge of the Power business line, said: "With this new order for the Chinese nuclear market which represents half of the worldwide nuclear market, we strengthen our global leadership in tubes for steam generators. By qualifying for the new Chinese standard, our subsidiary Valinox Nucléaire confirms its reputation for technical excellence in the critical tubes located in a plant`s primary loop, and enables us to reaffirm our determination to support our Chinese customers in their ambitious nuclear program."
First tour around the world in tubes
The contract comes at a time when Valinox Nucléaire, world leader in steam generator tubes designed for nuclear power plants, has just completed its first tour around the world in tubes. Between 1974 and 2014, the wholly-owned subsidiary of Vallourec produced 40,000 km of tubes, which is equivalent to the circumference of the earth. In a steam generator, 1mm-thick nickel-alloy tubes from Valinox Nucléaire enable thermal exchange between the pressurized water of the primary loop coming from the reactor and the steam of the secondary loop rotating the turbine.
Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.
With over 24,000 employees, integrated manufacturing facilities, advanced R&D and a presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the energy challenges of the 21st century.
Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: MSCI World Index, Euronext 100 and SBF 120.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
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Source: VALLOUREC via GlobeNewswire