Home / Knowledge / News / Textiles / Synalloy Corp sells its specialties chemicals business
Synalloy Corp sells its specialties chemicals business
08
Oct '09
Synalloy Corporation, a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and producer of specialty chemicals, announces that on October 2, 2009, the Company entered into a Asset Purchase Agreement with SantoLubes Manufacturing, LLC to sell the specialty chemical business of Blackman Uhler Specialties, LLC ("BU"), along with certain property, plant and equipment held by Synalloy Corporation, all located at the Spartanburg, SC location.

The purchase price of approximately $11,200,000, payable in cash, was equal to the approximate net book values of the assets sold as of the date of sale, and the Company expects to record a modest loss of less than $250,000 resulting primarily from transaction fees and other costs related to the transaction. Divesting BU's specialty chemicals business, having annual sales of approximately $14,500,000, will free up resources and working capital to allow further expansion into the Company's metals businesses.

Since 1945, Synalloy Corporation is a diverse manufacturer comprised of two major operating segments: metals and chemicals.

The Metals Segment, operating as Bristol Metals,LLC, manufactures pipe and piping systems from stainless steel and other alloys.The Specialty Chemicals Segment is comprised of three operating companies: Blackman Uhler LLC (BU Specialties) and Organic Pigments LLC , both located in Spartanburg, South Carolina and Manufacturers Chemicals, LLC in Cleveland, Tennessee and Dalton, Georgia.The segment produces specialty chemicals for the textile, carpet, chemical, paper, metals, photographic, pharmaceutical, agricultural, fiber and paint industries.

Synalloy Corporation


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search