Steel Products Prices North America
PTC Alliance to Buy Metal-Matic, Strengthen Foothold in Midwest
Written by Tim Triplett
December 21, 2021
Tubular products producer PTC Alliance has agreed to purchase the business of Metal-Matic Inc., another maker of welded and drawn over mandrel (DOM) carbon steel tubing. The transaction, which will strengthen the company’s foothold in the Midwest, is expected to close by the end of the year.
The deal will add four production facilities employing over 500 associates in Minnesota, Illinois and Ohio to PTC Alliance’s holdings. Metal-Matic will become part of PTC Alliance.
“Metal-Matic has a strong portfolio of products, brand and customers that we will seek to profitably maintain and grow,” PTC Alliance CEO Cary Hart said. “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.”
“We are excited about the opportunity to partner with PTC Alliance. The combination makes the company stronger, providing better service to our customers and more opportunities for our employees,” Metal-Matic President Sanjeev Deshpande said.
PTC Alliance, Wexford, Pa., is a leading manufacturer and marketer of welded and DOM mechanical steel tubing, cold drawn seamless, fabricated, precision tubular components, and chrome-plated steel bars. For nearly 100 years, PTC Alliance has supplied tube and bar for construction and agricultural equipment, machinery and appliances, automotive, heavy truck and energy applications.
By Tim Triplett, Tim@SteelMarketUpdate.com
Tim Triplett
Read more from Tim TriplettLatest in Steel Products Prices North America
Domestic plate prices could heat up despite so-so demand, market sources say
Some sources also speculated that plate could see further price increases thanks to modest but steady demand, lower imports, mill maintenance outages, and end markets less immediately affected by tariff-related disruptions.
SMU Price Ranges: HR holds, galv slips amid competing market narratives
SMU’s sheet and plate prices see-sawed this week as hot-rolled (HR) coil prices held their ground while prices for galvanized product slipped.
Nucor carries $875/ton HR list price into week seven
Nucor is keeping hot-rolled (HR) coil prices unchanged again this week, according to its latest consumer spot price (CSP) notice issued on Monday, Oct. 6
SMU Price Ranges: A newsy week sees modest price gains despite a quiet spot market
Market participants predicted that prices should be at or near a bottom. But while most seemed to agree on that point, many also said they saw little upside given a quiet spot market and ongoing concerns about demand.
Nucor increases plate prices by $60/ton
Nucor aims to increase prices for steel plate by $60 per short ton with the opening of its November order book.