PTC Alliance to acquire Metal-Matic assets

PTC Alliance has agreed to acquire the business of Metal-Matic Inc, picking up four production plants for welded carbon steel and drawn-over-mandrel tubing.

The Metal-Matic assets will become part of PTC Alliance after the transaction is completed, Wexford, Pennsylvania-based PTC Alliance said on Friday December 17. The Metal-Matic facilities are located in Minnesota, Illinois and Ohio.

Terms of the deal, which is expected to close by the end of 2021, were not disclosed.

“Metal-Matic has a strong portfolio of products, brand and customers that we will seek to profitably maintain and grow,” Cary Hart, chief executive officer of PTC Alliance, said in a statement. “This acquisition brings together two industry leaders under one well-financed and well-supported organization. Our customers will benefit greatly from both operating and commercial synergies of the combined company.”

Metal-Matic produces tubing for customer segments including automotive, appliance, agriculture, recreation, military, fluid power, boiler and construction, according to the Minneapolis-based company’s website. The company was founded in 1951.

Fastmarkets’ pricing assessment for steel welded mechanical tubing ASTM A513, fob mill US stands at $2,375-2,425 per short ton. The price recorded its all-time high of $2,475-2,525 per ton in early September. Fastmarkets’ A513 assessment debuted in November 2008.

What to read next
The publication of Fastmarkets’ US rebar prices took place earlier than scheduled on Wednesday March 22 due to a reviewer error.
Fastmarkets proposes to amend the frequency of its P1020A aluminium import premium assessment in Brazil to monthly, from fortnightly.
Prices for cobalt metal have witnessed a sustained rally and recovery in recent weeks, after hitting lows at the beginning of the year, even while market participants see challenging conditions on the supply side in the longer term
Glencore’s Gary Nagle might have spoken too soon when he said that his company wouldn’t be hit by a nickel fraud similar to that seen by its rival, Trafigura
Fastmarkets proposes to amend its steel cut-to-length plate carbon grade, fob mill US assessment to exclude material below 0.375 inches of thickness, which is sold with an added cost by several major mills.
The European Union’s much-anticipated Critical Raw Materials Act, announced on Thursday March 16 by European Commission president Ursula von der Leyen, has set out new lists of the raw materials now formally designated as strategic and critical
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.