Steel Products Prices North America
December 21, 2021
PTC Alliance to Buy Metal-Matic, Strengthen Foothold in Midwest
Written by Tim Triplett
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
