VALLOUREC: creation of a Corporate, Social Responsibility Committee within the Supervisory Board
Source: Nasdaq GlobeNewswire / 22 Feb 2019 11:45:39 America/New_York
Creation of a Corporate, Social Responsibility Committee within the Supervisory Board
Boulogne-Billancourt (France), 22 February 2019 - Vallourec announces the creation of a new specialized Committee to assist the Supervisory Board in monitoring corporate social responsibility (CSR) issues.
The Supervisory Board will now be able to rely on the work of this new committee for topics related to the CSR strategy and its implementation.
In line with the strong commitments made by Vallourec for many years, the CSR Committee's mission will be to ensure that the Group best anticipates the challenges, opportunities and extra-financial risks associated with its business in order to promote responsible and harmonious long-term value creation. It will make recommendations on the Group's policy and achievements in this area.
This new committee, chaired by Laurence Broseta, is composed of Maria-Pilar Albiac-Murillo and Philippe Altuzarra, independent members of the Supervisory Board.
"This Committee will help us to respond even better to the environmental and societal challenges related to our activities. The geographical scope of the company, the number and diversity of CSR initiatives taken by the Group called for the creation of a governance body responsible for orienting and overseeing the Group's social project, within the Supervisory Board", said Philippe Crouzet, Chairman of the Management Board.
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec's pioneering spirit and cutting edge R&D open new technological frontiers. With close to 19,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.
Listed on Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: SBF 120 and Next 150.
In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.
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Source: VALLOUREC via Globenewswire