Aug. 2, 2017

Outokumpu Sells Interest in Florida Pipe Plant to Ta Chen

Finnish specialty steelmaker Outokumpu has divested its financial interest in its pipe plant in Wildwood, Fla., to Ta Chen International. Ta Chen is a U.S.-based master distributor of stainless steel.

The divestment serves Outokumpu’s financial and operational interests, allowing Outokumpu to focus on its stainless steel production in the U.S. in Calvert, Ala., and Richburg, S.C., company officials say. Outokumpu’s other operations in the U.S. remain unchanged as a result of the divestiture.

The cash consideration of the transaction is approximately $30 million, depending on the amount of the net working capital at the closing.

Earlier this year, Ta Chen entered into a merger agreement with Empire Resources, a New Jersey-based distributor of aluminum and stainless products.


September 2017: Numbers Don’t Add Up for Service Centers
More...
 
Pause
September 2017: Lichtenstein: Five Steel Truths that Demand Attention
More...
Fall 2016: Cutting & Sawing Equipment
More...
Summer 2017
More...
 
Pause
Advanced Controls on Braner Slitters
More...
AHVS Precision Leveler Features Flip-Top Design
More...
Formtek’s Tishken Slitter Increases Production Volume
More...
Red Bud System Handles High-Strength Steels
More...
Bradbury Launches Flat Trak CL Monitoring System
More...
Artus Knives Custom Designed
More...
 
Pause
Privacy Statement  |  Terms Of Use
Copyright by Metal Center News



Tuesday, October 24, 2017