Ascent Industries (ACNT) said Monday it has closed the sale of nearly all assets of Bristol Metals to Ta Chen International for about $45 million in cash.
Proceeds will be used to grow its Specialty Chemicals segment and for general corporate needs, the company said.
After the sale, Ascent said its Tubular Products segment will consist solely of American Stainless Tubing.
Price: 12.50, Change: -0.20, Percent Change: -1.57
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