Key Developments For Synalloy Corp
Synalloy Corp (SYNL.O) (Consolidated Issue listed on NASDAQ Global Market)
Synalloy Corporation Announces Sale of Its Blackman Uhler Specialties Chemicals Business
Synalloy Corporation announced that on October 2, 2009, the Company entered into a Asset Purchase Agreement with SantoLubes Manufacturing, LLC to sell the specialty chemical business of Blackman Uhler Specialties, LLC (BU), along with certain property, plant and equipment held by Synalloy Corporation, all located at the Spartanburg, SC location. The purchase price of approximately $11,200,000, payable in cash, was equal to the approximate net book values of the assets sold as of the date of sale, and the Company expects to record a modest loss of less than $250,000 resulting primarily from transaction fees and other costs related to the transaction.
Synalloy Corporation Acquires Ram-Fab, Inc.
Synalloy Corporation announced the acquisition of the business of Ram-Fab, Inc., a private company located in Crossett, Arkansas. Terms of the transaction were not disclosed.
Synalloy Corporation Announces Sale Of Its Pigment Dispersion Business
Synalloy Corporation announced that on March 6, 2009, the Company entered into a Purchase Agreement to sell the pigment dispersion business of Organic Pigments, LLC (OP). The sale includes substantially all of OP's assets for a purchase price approximately equal to their net book value as of the date of sale, and any gain or loss resulting from the disposition will not be material. As part of the Agreement, the Company will continue to toll manufacture pigments for a transitional period of up to one year. OP will continue to produce and sell chemical dispersions utilizing some of its existing equipment, and is attempting to introduce new chemical dispersions directed at the latex and rubber industries, as well as other selected targeted customers.
Synalloy Corporation Announces Annual Dividend Payment
Synalloy Corporation announced the declaration of an annual dividend of $.10 per share payable on March 10, 2009, to holders of record on February 24, 2009.
Synalloy Corporation Announces Annual Dividend Payment
Synalloy Corporation announced that its Board of Directors has declared an annual dividend of $0.25 per share payable on March 7, 2008 to holders of record on February 21, 2008. This represents a 67% increase over the $.15 paid last year.
