Framatome to acquire Velan France and Segault from Velan for $198m.

Framatome, a French multinational company, agreed to acquire industrial valves manufacturers Velan France and Segault from Velan, an industrial valve manufacturing company, for $198m. “We believe these two transactions are key to unlocking Velan’s inherent value and we are delighted with an outcome that makes us a financially and operationally stronger company going forward. The divestiture of asbestos-related liabilities will allow Velan to confidently move ahead with the execution of its business plan while selling French subsidiaries to local interests also supports the protection of French sovereign interests,” James A. Mannebach, Velan Chairman and CEO.