COMPANY NEWS: Service company consolidation trend continues apace

09/03/2001
The worldwide consolidation trend among service and supply companies continues apace, while several exploration and production companies recently disclosed some cross-border acquisitions of their own.In service company news, Lone Star Technologies Inc., Houston, agreed to buy the tubular steel division of Edina, Mich.-based North Star Steel Co. for $430 million. North Star is a subsidiary of Cargill Inc., Minneapolis.Other service company deals include:Gulf Drilling & Production Services, a unit of Arabian International Petroleum Corp. (AIPC) of Qatar, acquired 90% of the shares in ITAG Group, Celle, Germany.ABB Group, Zurich, bought equipment supplier FIP SA, Mexico City, from Wal- worth...
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