French firm buys 75 percent stake in tubes maker CST

摘要

The 5.2 billion dollars French seamless steel tubes maker, Vallourec, has taken over Hyderabad-based tubes maker CST for an undisclosed amount. In a deal, sealed last week, Vallourec subsidiary Valtimiet acquired 75 per cent of CST, which has been renamed CST Valinox Ltd. CST officials confirmed the deal. In a press release posted at its website, Vallourec said that the new company would produce tubes for power plant condenser and feed water heater.