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.
The U.S. International Trade Commission (ITC) voted in late June to continue the existing countervailing duty order on circular welded pipe and tube from Turkey; the existing antidumping duty orders on circular welded pipe and tube from Brazil, India, Korea, Mexico, Taiwan, Thailand, and Turkey; and the existing antidumping duty order on light-walled rectangular pipe and tube from Taiwan.
PVF insiders paint a more positive marketplace outlook going forward, but still with a hint of caution sprinkled in. SWA President David Popek helps PHCP distributor VAMAC thrive in the Mid-Atlantic region. Read more stories in 2017 August Issue.