CHICAGO Synalloy Corp.
has completed its $25.6-million acquisition of Palmer of
Synalloy, which produces stainless steel pipe and fabricates
stainless and carbon steel piping systems, said Thursday that
the deal, announced earlier this month (
amm.com, Aug. 13), closed Aug. 21.
Andrews, Texas-based Palmer
employs 137 people and generated $32 million in revenue in the
year ended May 31, Synalloy said. In recent years, it has
focused on making fiberglass and steel tanks for the oil
industry, the company said (
amm.com, Aug. 13).
Palmers main facility in
Andrews is located in the Permian Basin, a traditional drilling
area, and serves the liquid-rich Eagle Ford and Barnett shales,
as well as the Anadarko Basin, Synalloy said. Palmer also
operates a temporary facility in Orange, Texas
(amm.com, Aug. 13).