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
SMU Price Ranges: Sheet and plate steady ahead of Independence Day
Sheet and plate prices were little changed in the shortened week ahead of Independence Day, according to SMU’s latest check of the market.
Nucor maintains plate prices, opens August order book
Nucor aims to keep plate prices flat again with the opening of its August order book.
Nucor CSP remains level at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil this week, following two consecutive increases.
Cliffs raises prices, seeks $950/ton for July spot HR
Cleveland-Cliffs plans to increase prices for hot-rolled (HR) coil to $950 per short ton (st) with the opening of its July spot order book. The Cleveland-based steelmaker said the price hike was effective immediately in a letter to customers dated Monday.
HRC vs. prime scrap spread widens in June
The price spread between HRC and prime scrap widened in June.