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Exhibit 99.1
LONE STAR NEWS RELEASE
TECHNOLOGIES, INC.
[Logo] NYSE: LSS
15660 N. Dallas Parkway, Suite 500 CONTACT: CHARLES J. KESZLER
Dallas, Texas 75248 (972) 770-6495
FAX (972) 770-6411
LONE STAR STEEL AND U.S. STEEL
SIGN FINAL MARKETING AGREEMENT
FOR WELDED TUBULAR PRODUCTS
Dallas, TX, October 18, 2000 ... Lone Star Technologies, Inc. (Lone Star),
NYSE: LSS, announced that its operating subsidiary, Lone Star Steel Company
(Steel), has finalized an exclusive multi-year agreement with U.S. Steel
Group (U.S. Steel), to market electric resistance welded (ERW) steel tubular
products manufactured at U.S. Steel's McKeesport, Pennsylvania facility.
U.S. Steel's McKeesport facility manufactures ERW casing and line pipe for
the oil and gas industry and standard pipe for a wide range of applications.
U.S. Steel's McKeesport facility is capable of producing welded tubular
products in outside diameters from 8 5/8" through 20" in a wide variety of
grades including certain grades for sour gas line pipe applications and
grades up to X-70. U.S. Steel's McKeesport facility employs the latest pipe
manufacturing technology and nondestructive inspection processes to meet and
exceed customer requirements for its extensive product size and grade ranges.
Rhys J. Best, Chairman, President and Chief Executive Officer, stated, "We
are very pleased with our new alliance with U.S. Steel. This alliance will
support our capability to meet customers' growing demand for a wide range of
premium quality tubular products on short notice."
Lone Star Technologies, Inc. is a holding company whose principal operating
subsidiaries manufacture and market oilfield casing, tubing, and line pipe,
specialty tubing products including finned tubes used in a variety of heat
recovery applications, and flat rolled steel and other tubular products and
services.
This release contains forward looking statements based on assumptions
that are subject to a wide range of business risks. There is no
assurance that the estimates and expectations in this release will be
realized. Important factors that could cause actual results to differ
materially from the forward looking statements are described in the
periodic filings of Lone Star Technologies, Inc. with the Securities
and Exchange Commission, including its Annual Report on Form 10-KA for
the year ended December 31, 1999.
