Synalloy Corp., through its subsidiary Bristol Metals LLC, signed a definitive agreement to acquire the Stainless Steel Pipe and Tube operations of Marcegaglia USA for approximately $15 million. According to Synalloy, with Bristol Metals’ recent investment in its heavy-wall operation and the addition of Marcegaglia’s laser mill capabilities, the company will be well positioned to support the North American pipe and tube market. Synalloy produces stainless steel pipe, fiberglass and steel storage tanks and specialty chemicals, and it distributes seamless carbon pipe and tubing. The transaction, which is expected to close by March 1, 2017, will exclude galvanized products and ornamental tubing products.
Synalloy to Acquire Stainless Steel Pipe and Tube Operations
December 13, 2016