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Mattr Corp. Agrees to Sell Thermotite do Brazil to Vallourec for US$17.5M
Sep 16, 2024•almost 2 years ago
Contract Type
agreement
Description
Mattr Corp. has entered into a definitive agreement to sell its subsidiary, Thermotite do Brazil, which provides thermal insulation pipe coating services to the offshore oil and gas industry, to Vallourec Tubular Solutions, a subsidiary of Vallourec S.A. The transaction is subject to customary closing conditions, including regulatory approvals, with the Company expected to receive gross sale proceeds of at least $17.5 million USD upon closing.
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months