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MAVERICK TUBE CORPORATION MAJOR EQUIPMENT PURCHASE FOR PRODUCT LINE DIVERSIFICATION

 ST. LOUIS, Mo., Nov. 22 /PRNewswire/ -- Maverick Tube Corporation (AMEX: MAV) announced today that it has agreed to purchase certain equipment consisting of two large tube mills and other ancillary items from Allied Tube and Conduit of Harvey, Ill. for an undisclosed amount. Maverick is considering moving the equipment now located in Liberty, Texas to a site near its present facility in Arkansas.
 Maverick intends to use this equipment in the production of structural tubing which is used predominately in the construction, agriculture and transportation industries. Maverick is now reviewing where the facility will be located and how the entire project will be financed. The project is estimated to cost $10-$12 million and is contingent on financing and other items. The company has begun negotiations with its principal lenders. If approved, projected start up will occur sometime during the quarter ending Dec. 31, 1994.
 Maverick's President Gregg Eisenberg stated, "We are delighted we were able to agree on terms with Allied to purchase this equipment. We have been looking at expanding into structural tubing and other product lines for some time, and this equipment fits very well with our plans. Our preliminary look into the economics of the project are very encouraging. Also, Maverick will have additional capacity to serve other tubular markets. We will be able to put to use the things we have learned in our recent move of our Missouri plant to Arkansas."
 Maverick Tube Corporation is a St. Louis-based manufacturer of tubular products used in the energy industry in drilling, production and surface transportation applications.
 -0- 11/22/93
 /CONTACT: Charles O. Struckhoff, vice president administration & secretary investor relations of Maverick Tube Corporation, 314-537-1314/
 (MAV)


CO: Maverick Tube Corporation ST: Missouri IN: SU:

TM -- NY101 -- 7034 11/22/93 19:19 EST
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Publication:PR Newswire
Date:Nov 22, 1993
Words:297
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