A.M. Castle buys tube distributor for $165M
Nov 10, 2011 | 04:56 PM
| Corinna Petry
Tags
A.M. Castle,
Tube Supply,
Michael Goldberg,
Scott Stephens,
oilfield,
steel pipe,
steel tube,
steel bar
Corinna Petry
CHICAGO — A.M. Castle & Co. has agreed to pay $165 million for Tube Supply Inc., a distributor of specialty tubular and bar products to the oil and gas industry.
"We will now have a complete oil and gas (service) platform, nearly tripling our presence in this market," Michael Goldberg, president and chief executive officer of the Oak Brook, Ill.-based metals processor and distributor, said Thursday in a conference call on the transaction.
"Tube Supply has a strong track record as a leading supplier of specialty mechanical tubing, bar and block," he said. "It will complement our existing business and further diversify our revenues and end markets."....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here