(AOF) – Valoric has announced the appointment of Enrico Schiapascasi as Senior Vice President, Group Strategy and Development. He takes office on 1 June 2022 and joins the Executive Committee. Previously Enrico Chiapacas was Vice President of the Oil and Gas Business Unit at the Prismian Group, the global leader in cables, power systems and communications.
From 2009 to 2022, Enrico Schiapascasi held various positions within the Prismian Group: first Director of Strategy, M&A for eight years, then became Vice President of Marketing, Product Development, Business and Energy, before taking the reins of the Oil and Gas business unit as Vice President. -president.
Philippe Guillemot, Chairman and CEO of Valoric, said: “I am delighted to welcome Enrico to the group and to the Executive Committee. With over 25 years of experience in the energy and consulting sectors, Enrico will be responsible for leading and executing the group’s future strategic directions.”
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the main points
– The global leader, together with Tenaris, in the seamless steel tubes market (12% market share) and the global leader in premium tubular solutions;
– turnover of 3.4 billion euros, with a strong position in the oil and gas sector (54%), ahead of the strongly growing industry (36%), petrochemicals (6%) and electric power;
– A new economic model in three pillars: reducing production capacities in Europe, strengthening presence in the Americas, the Middle East and Southeast Asia, and a plan to shift towards better competitiveness;
– non-operating capital due to the presence of BPI (2%), Apollo funds are the first shareholders with 20% of the shares and Edward Gunott, Managing Director, chaired by the Board of Directors of 9 directors;
– Balance sheet clean-up through a capital increase in June 2021 with equity of €1.8 billion and cash of €1.1 billion against €958 million in net debt but negative self-financing of €284 million.
– “Acceleration” strategy for profitable growth through industrial excellence and more efficient support functions with the aim of achieving total savings of €200 million during 2021-22;
The innovation strategy is supported by 6 research and development centers that aim to:
– Take advantage of the technological advantage (VAM® communication) and digital solutions distributed to customers via the Smartengo Vallouurec.smart platform,
Facing the challenges of agility in industry, the efficiency of power plants in electric power, and the complexity of transportation and storage in oil and gas
– Support employee proposals through Open Innovatin and Booster challenges;
– Environmental Strategy in List A of the CDP and validated by SBTi in two parts:
Showcasing energy transition solutions for geothermal, offshore wind, carbon capture and storage, and hydrogen with the goal of “significantly increasing sales during 2020-30”;
– Reduced impact: 40% renewable energy, 96% recycled waste, 43% recycled steel;
The production quality of the three main industrial sites: Youngstone in the United States, hence the group’s competitive advantage favored by increased steel tariffs, VSB in Brazil, and Tianda in China;
– the success of Vallouurec Umbilicals responsible for marine umbilical tubes;
– Deployment of competitive Brazilian and Chinese lines with expected pipe production of 500 kilotons in 2024 versus 300 kilotons in 2019.
eldorado from the bottom of the sea
One of the ten goals of the France 2030 plan presented by the French government includes exploration of the deep seabed. France is the world’s second naval power and one of 22 countries to benefit from an international contract for seabed drilling. A limited number of players, including China, produce mineral resources. By exploiting the sea floor, countries seek to take advantage of strategic reserves. However, there are limits to this exploration. First of all, the operations are complex and expensive, which raises the question of their profitability. Then, it is impossible to exploit these riches without harming the ecosystems of the deep sea.