Lone Star Steel Company
| Industry | Chief Financial Officer |
|---|---|
| Products | Steel |
Number of employees | 2,784 (2007) |
| Footnotes / references [1] | |
Lone Star Steel Company was a company that operated a plant that produced
The company presented its annual Chief Roughneck Award to lifetime contributors to the petroleum industry since 1955; the award has been presented by U.S. Steel since 2007 after it acquired the company.
History
The company was founded in 1942.[3]
In 1981, the company introduced a new family of steel, oil and gas well casings.[4]
In 1985, the company was spun off from Northwest Industries (now Fruit of the Loom, Inc. successor to Farley Industries, Inc.).[5] William H. Beasley 3d was named chairman and chief executive officer of Lone Star.[6]
In August 1988, the company acquired American Federal Bank for $48 million. It sold the bank for $150 million in 1993.[7]
In 1989, the company filed bankruptcy; it emerged in 1991.[8]
In 2001, the company reached a 4-year
In 2002, U.S. Steel canceled its marketing agreement with the company.[10]
In 2007, the company was acquired by U.S. Steel.[2]
In March 2016, U.S. Steel idled the plant.[3]
In December 2016, U.S. Steel permanently closed a section of the plant.[11]
References
- ^ "Lone Star Technologies, Inc. 2006 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b "U. S. Steel Completes Purchase of Lone Star Technologies" (Press release). Thomas Register. June 14, 2007.
- ^ a b "U.S. Steel idling Lone Star plant; laying off 450". Longview News-Journal. March 19, 2016.
- ^ "Lone Star Steel Has New Casings". The New York Times. May 28, 1981.
- ^ SAXON, WOLFGANG (November 3, 1990). "William Howard Beasley 3d, 44, of Lone Star Technologies, Dies". The New York Times.
- ^ Gilpin, Kennth N. (October 30, 1984). "Top Executive Chosen For Lone Star Steel". The New York Times.
- ^ "Lone Star Technologies to sell American Federal Bank". United Press International. February 17, 1993.
- ^ "Lone Star Steel Bankruptcy Plan". The New York Times. Associated Press. March 27, 1991.
- ^ "Lone Star Steel reaches deal with steelworkers union". American City Business Journals. June 25, 2001.
- ^ "U.S. Steel cancels agreement with Lone Star". American City Business Journals. July 29, 2002.
- ^ "Lone Star Steel to close down one section of plant". CBS News. December 29, 2016.