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Vallourec Invests in New Production Line at Brazilian Facility

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Vallourec (VK.PA) said it invested in a new production line at its Serra facility in Espírito Santo, Brazil, to support local and international offshore projects.

The Paris-listed steel tubes company's facility will manufacture Proxxima resin systems with Goldilocks subsea insulation technology licensed from energy and petrochemical company ExxonMobil (7DZ.F), according to a Thursday release.

Vallourec added that the investment is intended to boost its high value-added line pipe offering for the offshore market.

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