January 26, 2017 / 7:03 AM / 3 years ago

Vallourec and Asco finalise acquisition of France's Saint Saulve steel mill

PARIS, Jan 26 (Reuters) - French steel pipe maker Vallourec and Asco Industries announced on Thursday the finalisation of their acquisition of the Saint Saulve steel mill in northern France.

The companies’ Ascoval vehicle - 60 percent owned by Asco and 40 percent owned by Vallourec - will own all the assets of the mill, which is targeting an annualized production level of 275,000 tonnes from the end of 2017.

The companies added that they would look to invest in the Saint Saulve mill and integrate 320 staff. (Reporting by Sudip Kar-Gupta; Editing by Matthias Blamont)

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