Mattr Signs Definitive Agreement to Sell Its Brazilian Pipe Coating Business to Vallourec For US$17.5M

TORONTO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today that it has entered into a definitive agreement to sell its subsidiary, Thermotite do Brazil (“Thermotite”), to Vallourec Tubular Solutions, a subsidiary of Vallourec S.A. (“Vallourec”) (EPA:VK). Thermotite provides thermal insulation pipe coating services to the offshore oil and gas industry from its plant in Serra, Brazil and is the Company’s final remaining pipe coating business.

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