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    February 12, 2021

    PTC Buys Boomerang, Expands into OCTG

    Written by Michael Cowden

    A division of PTC Alliance has acquired “substantially all” of the assets of oil country tubular goods (OCTG) producer Boomerang Tube. The subsidiary, PTC Liberty Tubulars LLC, has in addition scooped up the assets of Southern Tube LLC in Houston, the company said. Financial terms of the deal were not disclosed.

    steel pipe“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,” PTC Alliance CEO Cary Hart said in a statement.

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

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