Vallourec formally refutes the information that it is preparing a vast redundancy plan for France.

The plan currently being implemented at the boiler line in Saint-Saulve will be finalized at the end of December 2018.

In addition, the Group confirms it is working on the definition of an action plan to strengthen the competitiveness of Vallourec's activities in Germany. This action plan will be submitted in due time to consultation and negotiation of an agreement with the relevant staff representative bodies.