Steel News

Synalloy Signs Deal to Acquire American Stainless Tubing Inc.

12/6/2018 - Stainless pipe maker Synalloy Corp. is acquiring North Carolina-based American Stainless Tubing Inc. (ASTI) for US$27 million to US$28 million, Synalloy has announced.  

Kyle Pennington, president of Synalloy Metals said, the acquisition is part of a broader strategy to become North America’s preeminent manufacturer of stainless steel pipe and tube. 

“For the last few years, Synalloy Metals has grown our business through product line extensions into heavy wall stainless welded pipe, seamless carbon distribution and into stainless steel tubing and galvanized products. ASTI is a good strategic fit with Synalloy Metals’ growth objectives,” he said. 

The deal is to close by 1 January. 

You can find Synalloy Corp.’s full announcement here.