The red-hot industrial building boom has resulted in quite a few record second-quarter and first-half sales and earnings for several PVF firms. Here is a summary of some of the reports from public PVF companies.
Spirax Sarco Inc. (SSI) has acquired majority interest in UltraPure Group Ltd. Inc., a Florida-based company that manufactures pure steam generators and water stills for the bio-pharmaceutical industry.
Global seamless pipe producer Tenaris S.A. will acquire Maverick Tube Corp. for $65 per share in cash, it was jointly announced by the two companies. The transaction is valued at $3.185 billion (all prices in U.S. dollars), including Maverick's net debt. The share price represents a premium of approximately 42% to Maverick's closing share price of June 12, 2006, and a premium of approximately 24% to its 90-day average trading price.