In a statement, Bristol Metals parent Synalloy Corp. said the US$10 million deal primarily includes Marcegaglia’s galvanized tube manufacturing equipment and inventory. Bristol also has entered into a sale-leaseback with another company for the Marcegaglia property just outside Pittsburgh, Pa., USA. 

The deal rounds out the acquisition of the business – Bristol in 2017 bought Marcegaglia USA’s stainless pipe and tube business. 

"We expect the addition of this business to be as incrementally positive to Bristol Metals’ financial results as was our initial transaction with Marcegaglia,” said Synalloy president and chief executive Craig C. Bram. 

"We have identified numerous growth opportunities for both galvanized and ornamental stainless products and will be investing in several capital projects to further enhance our throughput. By the end of 2018, revenue for the galvanized and ornamental stainless business is projected to be at an annual run rate greater than $50 million,” Bram said.