Paulo Cesar Peixoto de Castro, President of Grupo Peixoto de Castro, stated, "This alliance will expand our domestic and international energy- related product offerings and market distribution capabilities and give us resources to provide a wider range of products for the domestic energy market, which will enable us to generate improved returns from our tubular business. This agreement leverages our high quality, efficient tubular manufacturing operation with Lone Star's extensive and well-developed, distribution network. We are excited about the opportunities we can jointly create for our companies by working together."
Rhys J. Best, Chairman and Chief Executive Officer of Lone Star Technologies, stated, "We are very pleased to have entered into this relationship with Apolo, which will further enhance our ability to provide our customers with the broadest range of energy tubular products available today. Apolo's tubular products complement the sizes and grade ranges in our existing product lines, and their geographic location is excellent to serve the global growth in demand for energy tubular products."
Grupo Peixoto de Castro is a Brazilian holding company whose principal operating subsidiaries manufacture and distribute refined petroleum-derived products, lubricants, chemicals and petrochemicals, steel tubular products and refractory materials. The Group is also active in the banking and real estate industries.
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.
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