Lone Star Steel Company
{{Infobox company
| name = Lone Star Technologies, Inc.
| fate = Acquired by U.S. Steel
| foundation = {{start date and age|1942}}
| defunct = {{end date and age|2007|06|14}}
| hq_location = Lone Star, Texas
| key_people = Rhys J. Best, Chairman & CEO
Charles J. Keszler, Chief Financial Officer
| industry = Metals
| products = Steel
| num_employees = 2,784 (2007)
| footnotes = {{cite web | url=https://www.sec.gov/Archives/edgar/data/791348/000110465907014551/a07-5092_110k.htm | title=Lone Star Technologies, Inc. 2006 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
}}
Lone Star Steel Company was a company that operated a plant that produced steel in Lone Star, Texas. It specialized in making tubular steel with outer diameters ranging from 16 inches to 1.415 inches. In 2007, it was acquired by U.S. Steel for $2.1 billion.{{cite press release | url=https://news.thomasnet.com/companystory/u-s-steel-completes-purchase-of-lone-star-technologies-522317 | title=U. S. Steel Completes Purchase of Lone Star Technologies | publisher=Thomas Register | date=June 14, 2007}}
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.{{cite news | url=https://www.news-journal.com/news/business/u-s-steel-idling-lone-star-plant-laying-off/article_a67d2cee-acab-5dff-ba39-be999f1d2c14.html | title=U.S. Steel idling Lone Star plant; laying off 450 | work=Longview News-Journal | date=March 19, 2016}}
In 1981, the company introduced a new family of steel, oil and gas well casings.{{cite news | url=https://www.nytimes.com/1981/05/28/business/lone-star-steel-has-new-casings.html | title=Lone Star Steel Has New Casings | work=The New York Times | date=May 28, 1981 | url-access=subscription}}
In 1985, the company was spun off from Northwest Industries (now Fruit of the Loom, Inc. successor to Farley Industries, Inc.).{{cite news | url=https://www.nytimes.com/1990/11/03/us/william-howard-beasley-3d-44-of-lone-star-technologies-dies.html | title=William Howard Beasley 3d, 44, of Lone Star Technologies, Dies | first=WOLFGANG | last=SAXON | work=The New York Times | date=November 3, 1990 | url-access=subscription}} William H. Beasley 3d was named chairman and chief executive officer of Lone Star.{{cite web | url=https://www.nytimes.com/1984/10/30/business/business-people-top-executive-chosen-for-lone-star-steel.html | title=Top Executive Chosen For Lone Star Steel | first=Kennth N. | last=Gilpin | work=The New York Times | date=October 30, 1984 | url-access=subscription}}
In August 1988, the company acquired American Federal Bank for $48 million. It sold the bank for $150 million in 1993.{{cite news | url=https://www.upi.com/Archives/1993/02/17/Lone-Star-Technologies-to-sell-American-Federal-Bank/6528729925200/ | title=Lone Star Technologies to sell American Federal Bank | work=United Press International | date=February 17, 1993}}
In 1989, the company filed bankruptcy; it emerged in 1991.{{cite news | url=https://www.nytimes.com/1991/03/27/business/company-news-lone-star-steel-bankruptcy-plan.html | title=Lone Star Steel Bankruptcy Plan | agency=Associated Press | work=The New York Times | date=March 27, 1991 | url-access=subscription}}
In 2001, the company reached a 4-year collective bargaining agreement with its labor union.{{cite news | url=https://www.bizjournals.com/dallas/stories/2001/06/25/daily7.html | title=Lone Star Steel reaches deal with steelworkers union | work=American City Business Journals | date=June 25, 2001}}
In 2002, U.S. Steel canceled its marketing agreement with the company.{{cite news | url=https://www.bizjournals.com/pittsburgh/stories/2002/07/29/daily31.html | title=U.S. Steel cancels agreement with Lone Star | work=American City Business Journals | date=July 29, 2002}}
In 2007, the company was acquired by U.S. Steel.
In March 2016, U.S. Steel idled the plant.
In December 2016, U.S. Steel permanently closed a section of the plant.{{cite news | url=https://www.cbs19.tv/article/news/local/lone-star-steel-to-close-down-one-section-of-plant/380274400 | title=Lone Star Steel to close down one section of plant | work=CBS News | date=December 29, 2016}}