Philippe Guillemot announces the definitive closure of the German factories and of Saint-Saulve, Vallourec’s historic site in France. Sebastien Soriano / Le Figaro
Almost all of the steel tube specialist’s European factories will close. But the group is finally recovering.
His arrival at the head of Vallourec a year ago was a surprise. In March 2022, Philippe Guillemot chose to leave Elior to take the helm of a convalescent company, which was just recovering from the crisis caused by the drop in investment in oil. With his industrial past (Michelin, Faurecia, Alcatel-Lucent, Valeo and Areva…), the new CEO quickly applies a bitter but effective potion to the specialist in seamless steel tubes.
Last May, it announced the closure of almost all of its European factories, especially across the Rhine, after having tried in vain to sell them. “I have decided to close the factories in Germanysays Philippe Guillemot. It was a shock. But there was no longer a profitable market in Europe. Today, this decision is no longer in question. »
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