Maverick Tube Corporation

Maverick Tube Corporation

January 04, 2005 20:13 ET

Maverick Tube Corporation Announces Officer Appointments


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MAVERICK TUBE CORPORATION

NYSE SYMBOL: MVK

JANUARY 4, 2005 - 20:13 ET

Maverick Tube Corporation Announces Officer
Appointments

ST. LOUIS--(CCNMatthews - Jan 4, 2005) -

Maverick Tube Corporation (NYSE:MVK) announced today that its Board of
Directors has elected C. Robert Bunch, currently the Company's President
and Acting Chief Executive Officer, as Chairman. Mr. Bunch, who will
remain Acting Chief Executive Officer, replaces Gregg Eisenberg, whose
retirement as Chairman was previously announced. The Board also elected
James A. Cowan, currently the Company's Executive Vice President and
Chief Operating Officer, as President, replacing Mr. Bunch in this
capacity. Mr. Cowan will continue as the Company's Chief Operating
Officer. According to Mr. Bunch, "Jim Cowan has been an invaluable
addition to the Company over the past twenty-one months, and the Board
looks forward to his continuing contributions in his new role as our
Company's President."

In addition, the Company also announced certain other changes in
executive officer duties in connection with a reorganization of the
Company's operations along business unit lines. T. Scott Evans,
currently the Company's Senior Vice President-Marketing and Sales, will
remain as Senior Vice President and will serve as President of the
Company's Maverick Tubular Products Group. Maverick Tubular Products
Group is currently comprised of the following businesses: Maverick Tube
L.P., a U.S. market share leader in welded ("ERW") oil country tubular
goods ("OCTG") and line pipe; Prudential Steel, a Canadian market share
leader in ERW OCTG and line pipe; and Texas Arai, a North American
market share leader in API couplings. Sudhakar Kanthamneni, currently
the Company's Senior Vice President-Manufacturing and Technology, will
remain as Senior Vice President and serve as the Company's Chief
Technology Officer. In this role Mr. Kanthamneni will oversee the
Company's research and development initiatives and continue to help
guide the Company's growth in this critical area. Richard W. Preckel,
currently Vice President-Strategic Services, has been appointed the
Company's new Director-Investor Relations and Business Development. Mr.
Evans and Mr. Kanthamneni will continue to report to Mr. Cowan, while
Mr. Preckel will report to Mr. Bunch.

Leading the three businesses comprising the Maverick Tube Group are:
Jeff Shorter, Vice President and General Manager of Maverick Tube L.P.,
Bob Lee, Vice President and General Manager of Prudential Steel, and
Barham Moss, General Manager of Texas Arai. The Company also appointed
heads of its other two business units, each of whom report to Mr. Cowan.
Mr. Scott Harris has been appointed President-Republic Conduit, a North
American market share leader in electrical conduit products. Mr. Harris
is currently this unit's Vice President and General Manager. Dennis
Dunlap, currently Vice President-Line Pipe Sales, has been appointed
President-Precision Tube/SeaCAT, a leading worldwide provider of coiled
tubing products for downhole and line pipe applications, as well as a
provider of subsea umbilical products.

According to Mr. Cowan, "This new structure reflects the expansion of
the breadth of Maverick's product lines over the past several years, and
helps position the Company for further geographic and product
diversification."

Maverick Tube Corporation is a St. Louis, Missouri, based manufacturer
of tubular products used in the energy industry for drilling,
production, well servicing and line pipe applications, as well as
industrial tubing products (HSS, electrical conduit and standard pipe)
used in various applications.

This news release contains forward-looking information that is based on
assumptions that are subject to numerous business risks, many of which
are beyond the control of the Company. There is no assurance that such
assumptions will prove to be accurate. Actual results may differ from
these forward-looking statements due to numerous factors, including
those described under "Risk Factors" and elsewhere in Maverick's Form
10-K for its year ended December 31, 2003.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Maverick Tube Corporation
    Rick Preckel, 636-733-1600