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VALLOUREC PREPARES A VAST SOCIAL PLAN IN FRANCE AND GERMANY
PARIS (Reuters) – Vallourec is preparing a large-scale social plan in France and Germany to meet its financial deadlines and drastically reduce its costs, the online magazine Challenges reported on Wednesday.
According to the weekly, nearly 1,200 jobs and three sites of seamless steel tube producer will be affected next year in France by this restructuring, which will affect the sites of Montbard (Côte d'Or), Saint Saulve (North) and Aulnoye (North).
According to Challenges, Germany and its Düsseldorf site are also concerned with more than 600 jobs removed.
A spokeswoman for Vallourec, interviewed by Reuters, did not comment on this information immediately.
Vallourec said Monday have a "solid" liquidity and said it is confident in its ability to meet its obligations to its banks next year, after the degradation of its credit rating by the agency S & P.
The information reported by Challenges has not been verified by Reuters, which does not guarantee its accuracy.
(Benjamin Mallet, edited by Bertrand Boucey)
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