Synalloy Corp. expects to garner about $29.5 million from a
recent public offering, which it has expanded to 2 million
shares from 1.5 million previously, the company said.
S.C.-based Synalloy plans to pay down debt with the proceeds,
as well as invest $3.5 million in new equipment for its CRI
Tolling LLC facility and $2 million in new equipment for its
The offering is expected to close Sept. 30.
business activities include the production of stainless steel
pipe, fiberglass and steel storage tanks, specialty chemicals,
and stainless and carbon piping systems fabrication.