Latest Synalloy Corp (SYNL) Headlines Synalloy
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Posted On: 03/13/2014 3:09:49 AM
Latest Synalloy Corp (SYNL) Headlines
Synalloy Has Returned 12.2% Since SmarTrend Recommendation (SYNL)
Comtex SmarTrend(R) - Mon Mar 03, 11:10AM CST
SmarTrend identified a Downtrend for Synalloy (NASDAQ:SYNL) on August 13th, 2013 at $15.41. In approximately 7 months, Synalloy has returned 12.24% as of today's recent price of $13.52.
Moving Average Crossover: Great News for Synalloy (SYNL)? - Tale of the Tape
Zacks Equity Research - Zacks Investment Research - Tue Feb 25, 8:55AM CST
Moving Average Crossover: Great News for Synalloy (SYNL)?
Downgrade Alert for Synalloy (SYNL)
Comtex SmarTrend(R) - Thu Feb 06, 7:06AM CST
Synalloy (NASDAQ:SYNL) was downgraded from Buy to Neutral at Sterne Agee today. The stock closed yesterday at $15.06 on volume of 20,000 shares, below average daily volume of 20,000. Synalloy Corporation manufactures metals and chemicals. The metals segment produces pipe, piping systems, and process equipment from stainless steel and other alloys for the chemical, mining, petrochemical, paper, and pharmaceutical industries. The chemicals segment produces dyes, pigments, auxiliaries, and specialty chemicals for the textile, chemical, paper, and metals industries.
Synalloy's Chemical Segment Reports Double-Digit Increases in Sales and Operating Income for the Fourth Quarter and Total Year of 2013
GlobeNewswire - Tue Feb 04, 9:49PM CST
Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the fourth quarter of 2013 produced net sales of $52,243,000, down 2% compared to net sales of $53,138,000 for the fourth quarter of 2012. For the fourth quarter of 2013 the Company posted a net loss of $2,934,000 or a loss of $0.34 per share compared to net earnings of $965,000, or $0.15 per share for the same quarter in the prior year. For the year, net sales for 2013 were $220,750,000, an increase of 12% from $197,659,000 for the prior year. Net income was $1,905,000 or $0.27 per share for the entire year of 2013, down 55% when compared to net income of $4,235,000, or $0.66 per share for 2012. In September 2013, the Company recorded a bargain purchase gain of approximately $1,077,000, net of taxes, which resulted from CRI Tolling, LLC ("CRI Tolling"), a subsidiary of the Company, acquiring substantially all of the assets of Color Resources, LLC ("CRI"). As reported in our pre-announcement call on December 17, our BristolFab operation posted a pre-tax loss of $1.4 million for the months of October and November. Pre-tax losses for the month of December was approximately $2.3 million, bringing the unit's total pre-tax losses for the fourth quarter of 2013 to approximately $3.7 million. BRISMET and Palmer also posted pre-tax losses for the quarter, driven by several factors outlined in the discussion in the Metals Segment.
Garment Fabrication Project Launched
by Stevenson Mugisha - All Africa Global Media - Tue Feb 04, 8:38AM CST
The Workforce Development Authority (WDA) with support of Reborn Kyoto, a Japanese non-profit organization, has launched a high level training project in garment fabrication.
Synalloy Announces Fourth Quarter Earnings Conference Call
GlobeNewswire - Mon Jan 27, 3:15PM CST
Synalloy Corporation (Nasdaq:SYNL) plans to announce its fourth quarter 2013 earnings results in a press release that will be issued before the market opens on Tuesday, February 4, 2014. Following the earnings release, Synalloy will conduct a conference call and webcast at 10:00 a.m. ET to discuss the earnings results. Interested parties may listen to this discussion by calling 1-877-303-6648; Conference ID code 51339392. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
Commerce Preliminarily Finds Dumping of Imports of Welded Stainless Pressure Pipe From Malaysia, Thailand, and the Socialist Republic of Vietnam
GlobeNewswire - Fri Jan 03, 11:17AM CST
Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that on December 31, 2013, the Department of Commerce (Commerce) announced its affirmative preliminary determinations in the antidumping duty (AD) investigations of imports of welded stainless pressure pipe from Malaysia, Thailand, and the Socialist Republic of Vietnam (Vietnam). In 2012, imports of welded stainless pressure pipe from Malaysia, Thailand, and Vietnam were valued at an estimated $18.6 million, $22.9 million, and $18 million, respectively.
Synalloy Updates Fourth Quarter Outlook
GlobeNewswire - Tue Dec 17, 7:30AM CST
Synalloy Corporation (Nasdaq:SYNL), a holding Company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the Company is now projecting a loss on an adjusted net earnings basis for the fourth quarter of this year. During October and November, the Company's BristolFab unit experienced a pre-tax loss of $1.4 million. The loss occurred as we increased the number of production workers from 70 in September to approximately 140 in the past two months in response to a surge in our backlog, with resulting labor efficiencies falling well below profitable levels. We expect to see this continue into December.
Synalloy Announces Conference Call to Update Fourth Quarter
GlobeNewswire - Fri Dec 13, 3:55PM CST
Synalloy Corporation (Nasdaq:SYNL) plans to issue a press release to update the 2013 fourth quarter that will be issued before the market opens on Tuesday, December 17, 2013. Following the press release, the Company plans to hold a conference call and webcast at 10:00 a.m. ET to discuss the press release and answer questions. Interested parties may listen to this discussion by calling 1-877-303-6648; Conference ID code 25843882. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
Synalloy Corporation reports higher annual dividend of USD0.26 per share
M2 - Mon Nov 11, 7:01AM CST
Stainless steel pipe company Synalloy Corporation (NasdaqGM:SYNL) on Friday revealed on Friday an annual dividend of USD0.26 per share of its stock.
Synalloy Corporation Announces Increase in Annual Dividend Payment
GlobeNewswire - Fri Nov 08, 7:04AM CST
Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces the declaration of an annual dividend of $.26 per share payable on December 3, 2013 to holders of record on November 18, 2013.
Synalloy Announces Postponement of Preliminary Determinations in Anti-Dumping Petition
GlobeNewswire - Tue Oct 29, 2:00PM CDT
Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that Bristol Metals, LLC and the other petitioners in the anti-dumping petition filed before the U.S. Department of Commerce and the U.S. International Trade Commission (USITC) on May 16, 2013 have made a procedural filing, at the request of the USITC, to postpone the USITC's preliminary anti-dumping duty determinations, originally scheduled for October 23, 2013, to December 30, 2013.
Nasdaq stocks posting largest percentage decreases
AP - Mon Oct 21, 5:02PM CDT
NEW YORK (AP) — A look at the 10 biggest percentage decliners on Nasdaq at the close of trading:
Synalloy's Third Quarter Adjusted EBITDA Declines by $338,000
GlobeNewswire - Mon Oct 21, 7:30AM CDT
Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the third quarter of 2013 produced net sales of $54,397,000, up 8% compared to net sales of $50,271,000 for the third quarter of 2012. Net income for the third quarter of 2013 was $1,461,000 or $0.23 per share, up 73% over net earnings of $843,000, or $0.13 per share for the same quarter in the prior year. For the first nine months, net sales for 2013 were $168,506,000, an increase of 17% from $144,521,000 for the same period in the prior year. Net income was $4,840,000 or $0.75 per share for the first nine months of 2013, up 48% over net income of $3,270,000, or $0.51 per share for the first nine months of 2012. In September 2013, the Company recorded a bargain purchase gain of approximately $1,077,000, net of taxes, which resulted from its acquisition of Color Resources, LLC.
Synalloy Announces Third Quarter Earnings Conference Call
GlobeNewswire - Mon Oct 14, 2:16PM CDT
Synalloy Corporation (Nasdaq:SYNL) plans to announce its third quarter 2013 earnings results in a press release that will be issued before the market opens on Monday, October 21, 2013. Following the earnings release, Synalloy will conduct a conference call and webcast at 2:00 p.m. ET to discuss the earnings results. Interested parties may listen to this discussion by calling 1-877-303-6648; Conference ID code 86467785. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Industry in the U.S. - 2013-2017
M2 - Tue Oct 08, 5:50AM CDT
Research and Markets (http://www.researchandmarkets.com/research/sdv874/iron_and_steel) has announced the addition of Supplier Relations US, LLC's updated report "Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Industry in the U.S. and its International Trade [2013 Q3 Edition]" to their offering. This 2013 report's 172 pages and over 150 charts and tables cover the domestic market, global market and overseas growth opportunities. Find the latest data on shipments, inventory, international trade, and essential industry price indices available through June 2013. Relying on over a decade of historic data and sophisticated forecasting, the report projects industry trends through 2017. The report's broad scope includes topics from foreign trade to industry structure, while also diving into the details such as market sizes of products and players. Industry experts consistently subscribe to this quarterly-updated market research report. Revenue, Profitability & Foreign Trade Preview The industry's revenue for the year 2012 was reported at $13.8 billion USD, with an estimated gross profit of 29.49%. The industry used a projected 62 percent of its full production capacity in 2012. The industry could have increased its total shipment value to $22.2 billion USD under full production capacity. This industry did not have direct foreign trade statistics. The report nevertheless depicted relevant foreign trade data from a higher level NAICS industry or industry group. Companies Mentioned: - A.M. Castle & Co. - AK Steel Holding Corporation - Allegheny Technologies Incorporated - Commercial Metals Company - Dayton Superior Corp. - Evraz Inc. NA - Friedman Industries, Incorporated - Gerdau Ameristeel Corporation - Heartland Steel Products - L. B. Foster Company - Northwest Pipe Company - Nucor Corporation - Precision Castparts Corp. - Steel Dynamics, Inc. - Synalloy Corporation - TI Automotive - United States Steel Corporation - Webco Industries, Inc. For more information visit http://www.researchandmarkets.com/research/sd..._and_steel Source: Supplier Relations US, LLC About Research and Markets Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Synalloy Launches Common Stock Offering
GlobeNewswire - Mon Sep 16, 7:55AM CDT
Synalloy Corporation (Nasdaq:SYNL) today announced the launch of an underwritten public offering of 1,500,000 shares of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 225,000 shares of common stock from Synalloy.
Synalloy Expands Its Specialty Chemicals Segment With the Acquisition of CRI
GlobeNewswire - Thu Aug 29, 7:30AM CDT
Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon piping systems, announces the acquisition of the business assets of Color Resources, LLC ("CRI") and the building and land located in Fountain Inn, South Carolina where CRI was the sole tenant (the "CRI Facility"). CRI Tolling, LLC ("CRI Tolling"), a South Carolina limited liability company and wholly-owned subsidiary of Synalloy, will continue CRI's business as that of a toll manufacturer that provides outside manufacturing resources to global and regional chemical companies. CRI Tolling will operate as a division of Synalloy's Specialty Chemicals Segment, which includes Manufacturers Chemicals ("MC"). MC is one of the largest custom chemical formulators and contract manufacturers in the United States. Its principal products include defoamers, surfactants and lubricants, which are used in multiple markets including paper, carpet, textile, metal working, household, industrial and institutional chemicals, petroleum, mining, latex adhesives and agriculture.
Synalloy Has Returned 12.2% Since SmarTrend Recommendation (SYNL)
Comtex SmarTrend(R) - Mon Mar 03, 11:10AM CST
SmarTrend identified a Downtrend for Synalloy (NASDAQ:SYNL) on August 13th, 2013 at $15.41. In approximately 7 months, Synalloy has returned 12.24% as of today's recent price of $13.52.
Moving Average Crossover: Great News for Synalloy (SYNL)? - Tale of the Tape
Zacks Equity Research - Zacks Investment Research - Tue Feb 25, 8:55AM CST
Moving Average Crossover: Great News for Synalloy (SYNL)?
Downgrade Alert for Synalloy (SYNL)
Comtex SmarTrend(R) - Thu Feb 06, 7:06AM CST
Synalloy (NASDAQ:SYNL) was downgraded from Buy to Neutral at Sterne Agee today. The stock closed yesterday at $15.06 on volume of 20,000 shares, below average daily volume of 20,000. Synalloy Corporation manufactures metals and chemicals. The metals segment produces pipe, piping systems, and process equipment from stainless steel and other alloys for the chemical, mining, petrochemical, paper, and pharmaceutical industries. The chemicals segment produces dyes, pigments, auxiliaries, and specialty chemicals for the textile, chemical, paper, and metals industries.
Synalloy's Chemical Segment Reports Double-Digit Increases in Sales and Operating Income for the Fourth Quarter and Total Year of 2013
GlobeNewswire - Tue Feb 04, 9:49PM CST
Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the fourth quarter of 2013 produced net sales of $52,243,000, down 2% compared to net sales of $53,138,000 for the fourth quarter of 2012. For the fourth quarter of 2013 the Company posted a net loss of $2,934,000 or a loss of $0.34 per share compared to net earnings of $965,000, or $0.15 per share for the same quarter in the prior year. For the year, net sales for 2013 were $220,750,000, an increase of 12% from $197,659,000 for the prior year. Net income was $1,905,000 or $0.27 per share for the entire year of 2013, down 55% when compared to net income of $4,235,000, or $0.66 per share for 2012. In September 2013, the Company recorded a bargain purchase gain of approximately $1,077,000, net of taxes, which resulted from CRI Tolling, LLC ("CRI Tolling"), a subsidiary of the Company, acquiring substantially all of the assets of Color Resources, LLC ("CRI"). As reported in our pre-announcement call on December 17, our BristolFab operation posted a pre-tax loss of $1.4 million for the months of October and November. Pre-tax losses for the month of December was approximately $2.3 million, bringing the unit's total pre-tax losses for the fourth quarter of 2013 to approximately $3.7 million. BRISMET and Palmer also posted pre-tax losses for the quarter, driven by several factors outlined in the discussion in the Metals Segment.
Garment Fabrication Project Launched
by Stevenson Mugisha - All Africa Global Media - Tue Feb 04, 8:38AM CST
The Workforce Development Authority (WDA) with support of Reborn Kyoto, a Japanese non-profit organization, has launched a high level training project in garment fabrication.
Synalloy Announces Fourth Quarter Earnings Conference Call
GlobeNewswire - Mon Jan 27, 3:15PM CST
Synalloy Corporation (Nasdaq:SYNL) plans to announce its fourth quarter 2013 earnings results in a press release that will be issued before the market opens on Tuesday, February 4, 2014. Following the earnings release, Synalloy will conduct a conference call and webcast at 10:00 a.m. ET to discuss the earnings results. Interested parties may listen to this discussion by calling 1-877-303-6648; Conference ID code 51339392. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
Commerce Preliminarily Finds Dumping of Imports of Welded Stainless Pressure Pipe From Malaysia, Thailand, and the Socialist Republic of Vietnam
GlobeNewswire - Fri Jan 03, 11:17AM CST
Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that on December 31, 2013, the Department of Commerce (Commerce) announced its affirmative preliminary determinations in the antidumping duty (AD) investigations of imports of welded stainless pressure pipe from Malaysia, Thailand, and the Socialist Republic of Vietnam (Vietnam). In 2012, imports of welded stainless pressure pipe from Malaysia, Thailand, and Vietnam were valued at an estimated $18.6 million, $22.9 million, and $18 million, respectively.
Synalloy Updates Fourth Quarter Outlook
GlobeNewswire - Tue Dec 17, 7:30AM CST
Synalloy Corporation (Nasdaq:SYNL), a holding Company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the Company is now projecting a loss on an adjusted net earnings basis for the fourth quarter of this year. During October and November, the Company's BristolFab unit experienced a pre-tax loss of $1.4 million. The loss occurred as we increased the number of production workers from 70 in September to approximately 140 in the past two months in response to a surge in our backlog, with resulting labor efficiencies falling well below profitable levels. We expect to see this continue into December.
Synalloy Announces Conference Call to Update Fourth Quarter
GlobeNewswire - Fri Dec 13, 3:55PM CST
Synalloy Corporation (Nasdaq:SYNL) plans to issue a press release to update the 2013 fourth quarter that will be issued before the market opens on Tuesday, December 17, 2013. Following the press release, the Company plans to hold a conference call and webcast at 10:00 a.m. ET to discuss the press release and answer questions. Interested parties may listen to this discussion by calling 1-877-303-6648; Conference ID code 25843882. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
Synalloy Corporation reports higher annual dividend of USD0.26 per share
M2 - Mon Nov 11, 7:01AM CST
Stainless steel pipe company Synalloy Corporation (NasdaqGM:SYNL) on Friday revealed on Friday an annual dividend of USD0.26 per share of its stock.
Synalloy Corporation Announces Increase in Annual Dividend Payment
GlobeNewswire - Fri Nov 08, 7:04AM CST
Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces the declaration of an annual dividend of $.26 per share payable on December 3, 2013 to holders of record on November 18, 2013.
Synalloy Announces Postponement of Preliminary Determinations in Anti-Dumping Petition
GlobeNewswire - Tue Oct 29, 2:00PM CDT
Synalloy Corporation (Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that Bristol Metals, LLC and the other petitioners in the anti-dumping petition filed before the U.S. Department of Commerce and the U.S. International Trade Commission (USITC) on May 16, 2013 have made a procedural filing, at the request of the USITC, to postpone the USITC's preliminary anti-dumping duty determinations, originally scheduled for October 23, 2013, to December 30, 2013.
Nasdaq stocks posting largest percentage decreases
AP - Mon Oct 21, 5:02PM CDT
NEW YORK (AP) — A look at the 10 biggest percentage decliners on Nasdaq at the close of trading:
Synalloy's Third Quarter Adjusted EBITDA Declines by $338,000
GlobeNewswire - Mon Oct 21, 7:30AM CDT
Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that the third quarter of 2013 produced net sales of $54,397,000, up 8% compared to net sales of $50,271,000 for the third quarter of 2012. Net income for the third quarter of 2013 was $1,461,000 or $0.23 per share, up 73% over net earnings of $843,000, or $0.13 per share for the same quarter in the prior year. For the first nine months, net sales for 2013 were $168,506,000, an increase of 17% from $144,521,000 for the same period in the prior year. Net income was $4,840,000 or $0.75 per share for the first nine months of 2013, up 48% over net income of $3,270,000, or $0.51 per share for the first nine months of 2012. In September 2013, the Company recorded a bargain purchase gain of approximately $1,077,000, net of taxes, which resulted from its acquisition of Color Resources, LLC.
Synalloy Announces Third Quarter Earnings Conference Call
GlobeNewswire - Mon Oct 14, 2:16PM CDT
Synalloy Corporation (Nasdaq:SYNL) plans to announce its third quarter 2013 earnings results in a press release that will be issued before the market opens on Monday, October 21, 2013. Following the earnings release, Synalloy will conduct a conference call and webcast at 2:00 p.m. ET to discuss the earnings results. Interested parties may listen to this discussion by calling 1-877-303-6648; Conference ID code 86467785. The conference call will be webcast live through Synalloy's website at www.synalloy.com under the Investor Relations tab.
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Industry in the U.S. - 2013-2017
M2 - Tue Oct 08, 5:50AM CDT
Research and Markets (http://www.researchandmarkets.com/research/sdv874/iron_and_steel) has announced the addition of Supplier Relations US, LLC's updated report "Iron and Steel Pipe and Tube Manufacturing from Purchased Steel Industry in the U.S. and its International Trade [2013 Q3 Edition]" to their offering. This 2013 report's 172 pages and over 150 charts and tables cover the domestic market, global market and overseas growth opportunities. Find the latest data on shipments, inventory, international trade, and essential industry price indices available through June 2013. Relying on over a decade of historic data and sophisticated forecasting, the report projects industry trends through 2017. The report's broad scope includes topics from foreign trade to industry structure, while also diving into the details such as market sizes of products and players. Industry experts consistently subscribe to this quarterly-updated market research report. Revenue, Profitability & Foreign Trade Preview The industry's revenue for the year 2012 was reported at $13.8 billion USD, with an estimated gross profit of 29.49%. The industry used a projected 62 percent of its full production capacity in 2012. The industry could have increased its total shipment value to $22.2 billion USD under full production capacity. This industry did not have direct foreign trade statistics. The report nevertheless depicted relevant foreign trade data from a higher level NAICS industry or industry group. Companies Mentioned: - A.M. Castle & Co. - AK Steel Holding Corporation - Allegheny Technologies Incorporated - Commercial Metals Company - Dayton Superior Corp. - Evraz Inc. NA - Friedman Industries, Incorporated - Gerdau Ameristeel Corporation - Heartland Steel Products - L. B. Foster Company - Northwest Pipe Company - Nucor Corporation - Precision Castparts Corp. - Steel Dynamics, Inc. - Synalloy Corporation - TI Automotive - United States Steel Corporation - Webco Industries, Inc. For more information visit http://www.researchandmarkets.com/research/sd..._and_steel Source: Supplier Relations US, LLC About Research and Markets Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Synalloy Launches Common Stock Offering
GlobeNewswire - Mon Sep 16, 7:55AM CDT
Synalloy Corporation (Nasdaq:SYNL) today announced the launch of an underwritten public offering of 1,500,000 shares of its common stock, subject to market and other conditions. The underwriters will have an option to purchase up to an additional 225,000 shares of common stock from Synalloy.
Synalloy Expands Its Specialty Chemicals Segment With the Acquisition of CRI
GlobeNewswire - Thu Aug 29, 7:30AM CDT
Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon piping systems, announces the acquisition of the business assets of Color Resources, LLC ("CRI") and the building and land located in Fountain Inn, South Carolina where CRI was the sole tenant (the "CRI Facility"). CRI Tolling, LLC ("CRI Tolling"), a South Carolina limited liability company and wholly-owned subsidiary of Synalloy, will continue CRI's business as that of a toll manufacturer that provides outside manufacturing resources to global and regional chemical companies. CRI Tolling will operate as a division of Synalloy's Specialty Chemicals Segment, which includes Manufacturers Chemicals ("MC"). MC is one of the largest custom chemical formulators and contract manufacturers in the United States. Its principal products include defoamers, surfactants and lubricants, which are used in multiple markets including paper, carpet, textile, metal working, household, industrial and institutional chemicals, petroleum, mining, latex adhesives and agriculture.
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