Lone Star, Welspun in line pipe venture
Dec 21, 2006 | 12:07 PM
| Sam Kusic
Lone Star Technologies Inc., Dallas, is entering the U.S. large-diameter line pipe business via a joint venture with India's Welspun Group.
The joint venture, to be called Welspun-Lone Star Tubular LLC, intends to produce 300,000 tons of spiral-weld pipe annually, ranging from 24 inches to 60 inches in diameter. It also plans to have best-in-class coating capabilities.
Under the deal, Lone Star will contribute $26.4 million for a 40-percent stake while Welspun Pipe Inc., a division of Welspun Gujarat Stahl Rohren Ltd., Welspun Group's steel pipe division, will contribute $39.6 million for a 60-percent stake.....
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