05
Dec
17:26
Synalloy to acquire American Stainless Tubing for $28m
A division of specialty tube producer Synalloy plans to buy American Stainless Tubing for about $28 million, Kallanish learns from a company release.
The acquisition – which is expected to cost $27-28m, including certain royalty payments – will be handled by Synalloy subsidiary ASTI Acquisition. The closing is slated for 1 January.
Synalloy is based in Richmond, Virginia, while American Stainless Tubing is headquartered in Troutman, North Carolina…
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Very good overview of the weekly steel market.
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