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U.S. Steel announces pipe-threading joint venture with Texas firm

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X $21.37 -$0.19

at close on MONDAY

Monday, Dec. 3, 2012, 10:12 a.m.

U.S. Steel Corp.'s tubular products division said Monday it entered an agreement for a joint venture with a Texas firm to provide services to the energy industry in the Permian Basin, and oil- and natural gas producing region in Texas and New Mexico.

The joint venture with Butch Gilliam Enterprises LLC of Midland, Texas, is called Patriot Premium Threading Services and has operations in Midland, the heart of the basin, U.S. Steel said.

The news comes three days after Downtown-based U.S. Steel announced it is laying off 142 workers.

The new Patriot facility will thread U.S. Steel's tubular products and provide accessories, repair and other services.

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