Ascometal S.A. acquired 60% stake in the Saint Saulve Steel Mill from Vallourec SA (ENXTPA:VK) on January 26, 2017. Ascometal S.A. and Vallourec SA thereby established Ascoval S.A.S. as part of the transaction. A Management Board composed of five members; three of its members from Asco Industries and two from Vallourec SA has been established. Franck Dourlens, currently Director of Asco Industries in Les Dunes, will become Director of Ascoval S.A.S. and site, replacing Jean-Paul Brancart, who will take on other roles within Vallourec at the start of March, 2017. Weil, Gotshal & Manges LLP, Paris acted as legal advisor for Vallourec SA. Ascometal S.A. completed the acquisition of 60% stake in the Saint Saulve Steel Mill from Vallourec SA (ENXTPA:VK) on January 26, 2017.