France-based tube and pipe producer Vallourec saw revenues increase for its South American business in both Q4 and full-year 2019, the company said, while releasing its quarterly and full-year results. South American revenues in full-year 2019 totaled EUR 702 million ($781.5 million), 12 percent up, year-on-year.
Following the same uptrend, Vallourec said South American revenues in Q4 rose 24 percent, year-on-year, to EUR 194 million ($215.9 million), the biggest revenue growth for the company in Q4, on a year-on-year basis.
“In Brazil, higher revenue from iron ore was driven by an increase in volumes sold (6.2 million tons produced in 2019 or 32 percent up, compared to 2018) as a result of productivity improvements, and from higher iron ore prices,” the company said, while commenting its industry and other revenue business segment.
Vallourec said VSB Vallourec & Sumitomo Tubos do Brasil “rationalized” operations with undisclosed savings. “Exports now represent approximately 60 percent of VSB’s total production,” the company said.
The company said it will continue improving its Jeceaba site in Brazil and develop its new mini-mill program at its Barreiro site, also in Brazil.
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