Synalloy subsidiary to acquire American Stainless Tubing

Tube and pipe producer Synalloy Corp., Richmond, Va., has announced that its wholly owned subsidiary, ASTI Acquisition LLC, has signed a definitive agreement to acquire substantially all of the assets of American Stainless Tubing Inc. (ASTI).

Synalloy will sublease the facilities to ASTI Acquisition LLC, which after closing will be renamed American Stainless Tubing LLC.