{"id":825019,"date":"2025-03-12T16:44:31","date_gmt":"2025-03-12T20:44:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ascent-industries-co-announces-sale-of-bristol-metals-llc-for-45-million\/"},"modified":"2025-03-12T16:44:31","modified_gmt":"2025-03-12T20:44:31","slug":"ascent-industries-co-announces-sale-of-bristol-metals-llc-for-45-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ascent-industries-co-announces-sale-of-bristol-metals-llc-for-45-million\/","title":{"rendered":"Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million<\/b><\/p>\n<p>SCHAUMBURG, Ill.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAscent Industries Co. (Nasdaq: ACNT) (\u201cAscent\u201d or the \u201cCompany\u201d), an industrials company focused on the production and distribution of specialty chemicals and industrial tubular products, has announced it has reached a definitive agreement to sell substantially all of the assets of Bristol Metals, LLC (\u201cBRISMET\u201d) to Ta Chen International, Inc. (Ta Chen), a manufacturer and distributor of stainless and aluminum coils, sheets, plates, long products, tubes and PVFs, for approximately $45 million in an all-cash transaction. The transaction is planned to close on March 31, 2025.\n<\/p>\n<p>\nBRISMET has been an industry leader in stainless, duplex, super duplex, 6 moly and nickel alloy welded steel pipe manufacture since 1964. Proceeds from the transaction will be used to accelerate organic and inorganic growth of the company\u2019s specialty chemical business as well as general corporate purposes.\n<\/p>\n<p>\n\u201cWe are proud of achieving this value-creating outcome for Ascent shareholders. While transformational changes have been implemented at BRISMET over the past year, the inherent cyclicality in its end-markets makes it a much better fit for a more sector focused franchise,\u201d said Bryan Kitchen, president and CEO of Ascent. \u201cThis transaction provides Ascent with additional capital to pursue growth opportunities within the Specialty Chemicals segment. We are proud of BRISMET\u2019s performance under our stewardship and believe BRISMET is positioned for a strong future with Ta Chen.\u201d\n<\/p>\n<p>\nAscent\u2019s remaining assets within the tubular segment consist of American Stainless Tubing (ASTI), a producer of premium ornamental stainless steel tubing. More information about the Bristol Metals transaction can be found within the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fir.ascentco.com%2Fnews-events%2Fpresentations&amp;esheet=54223336&amp;newsitemid=20250312527901&amp;lan=en-US&amp;anchor=presentation+section&amp;index=1&amp;md5=6219435ab24017211db0a2ce5f3006a8\">presentation section<\/a> of the Company\u2019s investor relations site.\n<\/p>\n<p>\nAngle Advisors acted as financial advisor and Amundsen Davis, LLC acted as legal advisor to Ascent.\n<\/p>\n<p><b><span class=\"bwuline\">About Ascent Industries Co.<\/span><\/b><\/p>\n<p>\nAscent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of specialty chemicals and industrial tubular products. For more information about Ascent, please visit its website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.ascentco.com&amp;esheet=54223336&amp;newsitemid=20250312527901&amp;lan=en-US&amp;anchor=www.ascentco.com&amp;index=2&amp;md5=ee6c4aab06a994d36b64aece9a849e71\">www.ascentco.com<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nThis press release may include &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;should,&#8221; &#8220;anticipate,&#8221; &#8220;hope,&#8221; &#8220;optimistic,&#8221; &#8220;plan,&#8221; &#8220;outlook,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;may&#8221; and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.\u2019s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250312527901r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250312527901\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250312527901\/en\/<\/a><\/span><\/p>\n<p><b><span class=\"bwuline\">Company Contact<br \/>\n<\/span><\/b><br \/>Ryan Kavalauskas<br \/>\n<br \/>Chief Financial Officer<br \/>\n<br \/>1-630-884-9181\n<\/p>\n<p><b><span class=\"bwuline\">Investor Relations<br \/>\n<\/span><\/b><br \/>Cody Slach and Cody Cree<br \/>\n<br \/>Gateway Group, Inc.<br \/>\n<br \/>1-949-574-3860<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:ACNT@gateway-grp.com\">ACNT@gateway-grp.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Illinois New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Chemicals\/Plastics Machine Tools, Metalworking &amp; Metallurgy Manufacturing Steel<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250312527901\/en\/2408207\/3\/Ascent_Logo_Dark.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million SCHAUMBURG, Ill.&#8211;(BUSINESS WIRE)&#8211; Ascent Industries Co. (Nasdaq: ACNT) (\u201cAscent\u201d or the \u201cCompany\u201d), an industrials company focused on the production and distribution of specialty chemicals and industrial tubular products, has announced it has reached a definitive agreement to sell substantially all of the assets of Bristol Metals, LLC (\u201cBRISMET\u201d) to Ta Chen International, Inc. (Ta Chen), a manufacturer and distributor of stainless and aluminum coils, sheets, plates, long products, tubes and PVFs, for approximately $45 million in an all-cash transaction. The transaction is planned to close on March 31, 2025. BRISMET has been an industry leader in stainless, duplex, super duplex, 6 moly and nickel alloy welded steel pipe &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ascent-industries-co-announces-sale-of-bristol-metals-llc-for-45-million\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-825019","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ascent-industries-co-announces-sale-of-bristol-metals-llc-for-45-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Ascent Industries Co. Announces Sale of Bristol Metals, LLC for $45 Million SCHAUMBURG, Ill.&#8211;(BUSINESS WIRE)&#8211; Ascent Industries Co. (Nasdaq: ACNT) (\u201cAscent\u201d or the \u201cCompany\u201d), an industrials company focused on the production and distribution of specialty chemicals and industrial tubular products, has announced it has reached a definitive agreement to sell substantially all of the assets of Bristol Metals, LLC (\u201cBRISMET\u201d) to Ta Chen International, Inc. (Ta Chen), a manufacturer and distributor of stainless and aluminum coils, sheets, plates, long products, tubes and PVFs, for approximately $45 million in an all-cash transaction. The transaction is planned to close on March 31, 2025. BRISMET has been an industry leader in stainless, duplex, super duplex, 6 moly and nickel alloy welded steel pipe &hellip; Continue reading &quot;Ascent Industries Co. 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