NEW YORK Vallourec SA
plans to commission the finishing lines at its new mill in
Youngstown, Ohio, during the second quarter, with ramp-up of
the facility "advancing as scheduled," the company said in its
first-quarter earnings report May 2.
France-based pipe and tube maker posted net income of 35
million ($45.73 million) during the quarter, up 20.7 percent
from 29 million in the same period last year, on sales
that rose 1.2 percent to more than 1.21 billion ($1.59
billion). Sales volumes fell 3.4 percent to 487,000 tonnes from
504,000 tonnes in the same comparison.
Vallourec continued to record
strong results in its oil and gas segment, with first-quarter
sales rising 9.7 percent to 768 million ($1 billion),
although it is less optimistic on its other market segments,
all of which showed declines compared with a year earlier.
"Looking forward, indicators for
the global oil and gas markets remain well oriented, while the
economic environment continues to be challenging for other
markets, with limited visibility," the company said.