Maverick's South American Unit Ends Lone Star Alliance
Maverick Tube Corp. announced that its recently acquired subsidiary, Tubos del Caribe, S.A. (“TuboCaribe”), and Lone Star Steel Co. have terminated their strategic alliance agreement under which Lone Star marketed and sold in the United States oil country tubular goods produced by TuboCaribe. The strategic alliance was due to expire in October 2006.
TuboCaribe's OCTG products henceforth will be available in the United States through Maverick Tube. All other pipe products will be available through Advance Corp.'s Houston office. In Latin America, the Maverick lines will complement the TuboCaribe lines and be sold through offices in Quito, Caracas, Bogota and Cartagena.