Maverick Tube Corporation

Maverick Tube Corporation

May 31, 2005 17:37 ET

Maverick Tube Corporation Announces the Completion of Tubos Del Caribe S.A., Colmena S.A., and Advance Corp. Acquisitions

ST. LOUIS--(CCNMatthews - May 31, 2005) -

Maverick Tube Corporation (NYSE: MVK) announced today the successful completion of its previously announced acquisitions of Tubos del Caribe S.A. ("Tubos del Caribe"), substantially all of the equity interests in Consorcio Metalurgico Nacional S.A. ("Colmena S.A."), and Advance Corp. on Friday May 27, 2005.

C. Robert Bunch, Chairman and Chief Executive Officer of Maverick, commented, "We are pleased to welcome all the customers and employees of Tubos del Caribe, Colmena, and Advance to the Maverick family. The senior management team remains in place and is headed by Rafael del Castillo, who brings 17 years of experience with Tubos del Caribe." Mr. Bunch continued, "These acquisitions are an important step toward our goal of expanding Maverick's businesses around the world, while making us more competitive in our North American markets."

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

This news release may contain 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, 2004.

Contact Information

  • Maverick Tube Corporation, St. Louis
    Rick Preckel, 636-733-1600