US Steel unveiled Tuesday a new corporate structure for their tubular business, which last year posted an operating loss of $179 million. Ownership of its Lorain, Ohio and Fairfield, Alabama seamless tubular businesses has been transferred from US Steel to a new, wholly owned subsidiary, US Steel Tubular Products Holdings LLC.
The holding company’s businesses will include two units, according to an organizational chart distributed by David J. Rintoul, head of the tubular business: one that includes operations purchased as part of US Steel’s 2007 acquisition of Texas tube producer Lone Star Technologies, along with overseas operations; and an LLC that contains the Lorain and Fairfield businesses.
US Steel said it created the new structure to make “operational matters for our tubular segment ... more efficient and more transparent” as part of its ongoing effort to evaluate “potential strategic and organizational opportunities, which may include the acquisition, divestiture or consolidation of assets.”