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Ascent Industries to Sell American Stainless Tubing
06/27/2025 - Specialty chemicals producer and distributor Ascent Industries Co. announced it has entered into an asset purchase agreement to sell its ornamental stainless steel tubing manufacturer subsidiary American Stainless Tubing LLC (ASTI) to First Tube LLC.
“The sale of ASTI, the last of our operating tubular assets, underscores our commitment to completing our pivot to a focused, high-return specialty chemicals platform,” said Bryan Kitchen, president and chief executive officer of Ascent.
A subsidiary of Triple-S Steel Holdings Inc., First Tube intends to buy ASTI for US$16 million subject to closing conditions.
“We are proud of the performance and legacy of ASTI under our ownership. The business is well-positioned for continued growth and success with First Tube LLC,” Kitchen continued.
Ascent said it will use the proceeds from the transaction to support both organic and inorganic initiatives within its specialty chemicals segment and general corporate purposes.
The companies expect the transaction to close on 30 June.
A subsidiary of Triple-S Steel Holdings Inc., First Tube intends to buy ASTI for US$16 million subject to closing conditions.
“We are proud of the performance and legacy of ASTI under our ownership. The business is well-positioned for continued growth and success with First Tube LLC,” Kitchen continued.
Ascent said it will use the proceeds from the transaction to support both organic and inorganic initiatives within its specialty chemicals segment and general corporate purposes.
The companies expect the transaction to close on 30 June.
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