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Article: U.S. Steel buys major pipe maker

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Post-Tribune (IN)
Article date:
March 30, 2007
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THIS ELECTRONIC VERSION MAY DIFFER SLIGHTLY FROM PRINTED VERSION

U.S. Steel bought Lone Star Technologies Inc. for $2.1 billion Thursday, driving questions of whether company is on a buying binge. Dallas-based Lone Star is a leading producer of welded steel pipe for the oil and gas drilling industry. U.S. Steel is a leading producer of seamless tubing for the same industry, making the companies natural partners, said U.S. Steel spokesman John Armstrong.

"Lone Star is a very good fit with the tubular steel business we already have," Armstrong said.

He brushed aside questions that U.S. Steel is set to grow through acquisition. Once the nation's largest steel maker, U.S. Steel has been dwarfed ...

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