- FMA
- The Fabricator
- FABTECH
- Canadian Metalworking
Categories
- Additive Manufacturing
- Aluminum Welding
- Arc Welding
- Assembly and Joining
- Automation and Robotics
- Bending and Forming
- Consumables
- Cutting and Weld Prep
- Electric Vehicles
- En Español
- Finishing
- Hydroforming
- Laser Cutting
- Laser Welding
- Machining
- Manufacturing Software
- Materials Handling
- Metals/Materials
- Oxyfuel Cutting
- Plasma Cutting
- Power Tools
- Punching and Other Holemaking
- Roll Forming
- Safety
- Sawing
- Shearing
- Shop Management
- Testing and Measuring
- Tube and Pipe Fabrication
- Tube and Pipe Production
- Waterjet Cutting
Industry Directory
Webcasts
Podcasts
FAB 40
Advertise
Subscribe
Account Login
Search
Ryerson to sell oil, gas assets
- February 6, 2006
- News Release
- Metals/Materials
Ryerson Inc. today announced the signing of a definitive agreement to sell certain assets related to its U.S. oil and gas, tubular alloy, and bar alloy businesses to Energy Alloys, LLC, a Texas limited liability company. Subject to closing adjustments, the sale price includes $45.5 million of cash, receipt of a $4 million, 3-year note, and the assumption of less than $1 million of liabilities by Energy Alloys. Ryerson expects the transaction to be completed by the end of the first quarter of 2006, subject to customary due diligence and other closing conditions. Ryerson expects to record a pre-tax gain on the sale of approximately $18 million and intends to use the cash proceeds to pay down debt.
The divested operations include three locations dedicated to the oil and gas markets in Oklahoma, Texas, and the Gulf Coast. These operations were acquired with the acquisition of Integris Metals, Inc. in January 2005. The three locations generated revenues of approximately $80 million in 2005 and were profitable. However, Ryerson said that the oil and gas market products are not a strategic fit its core business. The sale will not impact Ryerson's remaining operations in Oklahoma, Texas, and the Gulf Coast region.
It is anticipated that the Ryerson employees at the sold operations will join Energy Alloys.
Related Companies
subscribe now
The Fabricator is North America's leading magazine for the metal forming and fabricating industry. The magazine delivers the news, technical articles, and case histories that enable fabricators to do their jobs more efficiently. The Fabricator has served the industry since 1970.
start your free subscription- Stay connected from anywhere
Easily access valuable industry resources now with full access to the digital edition of The Fabricator.
Easily access valuable industry resources now with full access to the digital edition of The Welder.
Easily access valuable industry resources now with full access to the digital edition of The Tube and Pipe Journal.
Easily access valuable industry resources now with full access to the digital edition of The Fabricator en Español.
- Podcasting
- Podcast:
- The Fabricator Podcast
- Published:
- 04/16/2024
- Running Time:
- 63:29
In this episode of The Fabricator Podcast, Caleb Chamberlain, co-founder and CEO of OSH Cut, discusses his company’s...
- Trending Articles
Steel industry reacts to Nucor’s new weekly published HRC price
How to set a press brake backgauge manually
Capturing, recording equipment inspection data for FMEA
Are two heads better than one in fiber laser cutting?
Hypertherm Associates implements Rapyuta Robotics AMRs in warehouse
- Industry Events
16th Annual Safety Conference
- April 30 - May 1, 2024
- Elgin,
Pipe and Tube Conference
- May 21 - 22, 2024
- Omaha, NE
World-Class Roll Forming Workshop
- June 5 - 6, 2024
- Louisville, KY
Advanced Laser Application Workshop
- June 25 - 27, 2024
- Novi, MI