Synalloy Acquiring Stainless Pipe and Tube Operation
12/13/2016 - A subsidiary of Virginia-based Synalloy Corp. is acquiring the stainless pipe and tube operations of Marcegaglia USA for US$15 million to US$16 million, the company announced on Tuesday.
In a statement, Synalloy said the asset purchase agreement excludes Marcegaglia’s galvanized and ornamental tubing products and real estate. The business is being acquired through Synalloy’s Bristol Metals and expects to close the deal by 1 March 2017.
“It has been Bristol Metals’ ultimate goal to become the preeminent manufacturer of stainless steel pipe and tube in North America. We will work with the team at Marcegaglia’s Munhall, Pa., facility to drive continued improvements in our core initiatives, with an emphasis on customer service,” said Synalloy Metals president Kyle Pennington.
“With Bristol Metals’ recent investment in its heavy wall operation, and the addition of Marcegaglia’s laser mill capabilities, our company will be well-positioned to support the North American pipe and tube market for many years to come,” he said.
Synalloy Corp. makes stainless steel pipe; fiberglass and steel storage tanks; and specialty chemicals. It also is a master distributor of seamless carbon pipe and tubing.
“The prospect of bringing together the capabilities of Bristol Metals and Marcegaglia’s U.S. stainless steel business is very exciting. Mr. Antonio Marcegaglia and I have been working diligently on this transaction and look forward to closing in the coming months,” said Synalloy Corp. president and chief executive Craig Bram.
“It has been Bristol Metals’ ultimate goal to become the preeminent manufacturer of stainless steel pipe and tube in North America. We will work with the team at Marcegaglia’s Munhall, Pa., facility to drive continued improvements in our core initiatives, with an emphasis on customer service,” said Synalloy Metals president Kyle Pennington.
“With Bristol Metals’ recent investment in its heavy wall operation, and the addition of Marcegaglia’s laser mill capabilities, our company will be well-positioned to support the North American pipe and tube market for many years to come,” he said.
Synalloy Corp. makes stainless steel pipe; fiberglass and steel storage tanks; and specialty chemicals. It also is a master distributor of seamless carbon pipe and tubing.
“The prospect of bringing together the capabilities of Bristol Metals and Marcegaglia’s U.S. stainless steel business is very exciting. Mr. Antonio Marcegaglia and I have been working diligently on this transaction and look forward to closing in the coming months,” said Synalloy Corp. president and chief executive Craig Bram.
