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Last updated : 15/09/2026 - 15h46
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Vallourec builds subsea insulation line in Brazil under ExxonMobil license

The French manufacturer of tubular solutions has launched the construction of a production line dedicated to subsea thermal insulation technology at its Serra site in the state of Espírito Santo. The operation is part of the industrial deployment of a technology licensed from ExxonMobil.


Vallourec builds subsea insulation line in Brazil under ExxonMobil license

Subsea insulation technology under ExxonMobil license

Vallourec announced on September 10, 2026 the launch of work on a production line dedicated to Proxxima resin systems associated with the Goldilocks subsea insulation technology (GDLX) at its Serra site in Brazil. The group presents this step as the industrial deployment of a subsea thermal insulation technology placed under ExxonMobil license.

According to Vallourec, these systems offer enhanced thermal performance, extended cooling time and faster insulation execution than conventional systems. The technology has already been selected for ExxonMobil's Longtail deepwater project in Guyana, for which Vallourec is to supply thermally insulated pipes as part of its integrated offshore offering.

The announcement was made during a visit by Philippe Guillemot, Chairman and Chief Executive Officer of Vallourec, to the Serra site.

Strengthening industrial presence in Brazil

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The investment at Serra builds on the group's long-standing presence in Brazil and aims to strengthen its capacity to deliver high-value-added pipe solutions for the offshore sector. Located near the port of Vitória, the site is positioned to serve domestic and export markets, while contributing to the development of local expertise and regional value chain.

According to a quote from Philippe Guillemot in the press release, the capabilities provided by GDLX helped secure the Hammerhead and Longtail contracts, described as the largest pipe orders ever obtained by Vallourec. Andre Lacerda, Senior Vice President for South America (tubes activities), said that this investment confirms the strategic role of Brazil within the group's global footprint.



Sector Métaux et mines Acier / sidérurgie


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 1 860 millions de dollars
  • Quarterly revenue: 1 860 millions de dollars
  • Revenue growth: -8 %
  • EBITDA: 409,4 millions de dollars
  • EBITDA margin: 22 %
  • Net income: 131,5 millions de dollars
  • Free cash flow: 303 millions de dollars
  • -183,1 millions de dollars
Risks mentioned
  • Baisse de 15 % des volumes vendus de Tubes au premier semestre 2026
  • RBE Mines & Forêts en recul à 71 M$ contre 107 M$, effets de change défavorables du réal
  • Fermeture du détroit d'Ormuz affectant les délais de livraison à l'international
Opportunities identified
  • RBE du segment Tubes en hausse à 372 M$ grâce aux prix et au mix produit
  • Position de liquidité très solide de 2,0 milliards de dollars au 30 juin 2026
  • Produit d'environ 307 M€ encaissé le 8 juillet 2026 après exercice des bons de souscription
Outlook / guidance
  • Expected EBITDA: 190 millions de dollars

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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