May 6, 2008
Vallourec: crude remains at the top!
Vallourec: crude remains at the top!
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Reprise. Vincent Bolloré has not lost his legendary flair ... A new evidence has to be made with the way he manages the file Vallourec. After selling most of its stake above the threshold of 200 Euros, the businessman breton was placed under the 130 Euros in February this year, through the purchase of a block representing 1.6% capital. The last week just as well give it again because with a sharp rise in the price of pipe manufacturer in the wake of the peaks reached by the price of a barrel of oil close to the helm of the 120 Dollars ...
Competition. The context which remains largely bearer for all stakeholders in the upstream oil sector. Investments rose sharply with the need to renew the deposits, while consumption remains strong. Prices have records for the moment that little impact on demand, emerging countries saw their needs grow significantly. As the Western countries, renewable energies are still far from being able to take over oil ...
Range. It is feared that the rise of some Indian or Brazilian competitors do counteract the beautiful sequence of results displayed by Vallourec. The growing range of the group, with an offer wider product offering dedicated to more value-added, however, allows Vallourec to remain optimistic about its future. After a brilliant fiscal 2007, sales volumes should remain at levels equivalent this year. The weak dollar and rising raw material costs will still impacter profitability with a slight decline expected margin. Even if Vallourec is now deprived of reference shareholder, an offer could result with a nice premium on the current course. The discount market which persists on foreign competitors is hardly justified. We will therefore continue to retain the positions of the medium term.
by erectusplus at 9:54 AM |
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