Synalloy Corporation announced that its subsidiary Bristol Metals, LLC, has closed on the purchase of Marcegaglia USA’s stainless steel pipe and tube operations. The purchase price for the transaction of USD 14.95M includes primarily the stainless steel pipe and tube manufacturing equipment and inventory assets of the business.
The combined business will operate as Bristol Metals, LLC, with facilities in Bristol, TN and Munhall, PA. The new Bristol Metals, LLC will be the largest domestic producer of welded stainless steel pipe and mechanical tube in North America, with market share approaching 40%. Craig Bram, President and CEO of Synalloy Corporation said that the combined capacity of the two operations will exceed GBP 70M annually across all product lines.
