Synalloy to acquire Palmer of Texas
Synalloy Corp., Spartanburg, S.C., a producer of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and producer of specialty chemicals, has entered into an agreement to acquire Palmer of Texas, a manufacturer of liquid storage systems and separation equipment for the petroleum, municipal water, wastewater, chemical, and food industries.
In recent years Palmer's business has been focused on providing fiberglass (FRP) and steel tanks to the oil industry. Its primary facility in Andrews, Texas, is located in the Permian Basin of west Texas and also serves the Anadarko Basin, Eagle Ford Shale, and the Barnett Shale. Palmer also operates a temporary facility on the Sabine River in Orange, Texas.
The transaction is expected to close by Aug. 25, 2012.