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Non-Precious Metals & Non-Metallic Mining M&A image Non-Precious Metals & Non-Metallic Mining M&A » By The Online Investor Staff, updated Mon., Feb. 24, 4:44 PM Recent mergers and acquisitions in the Non-Precious Metals & Non-Metallic Mining M&A category.

Slide #43. Synalloy Corporation Lee-Var, Inc., dba Palmer of Texas

Acquirer: Synalloy Corporation (NASDAQ:SYNL)
Acquiree: Lee-Var, Inc., dba Palmer of Texas
Details: Synalloy Corporation announced that as previously reported on August 13, 2012, Synalloy entered into an agreement to purchase the stock of Lee-Var, Inc., dba Palmer of Texas. On August 21, 2012, the Company closed the transaction contemplated by the Stock Purchase Agreement. The acquisition was funded through a Credit Agreement with its current bank to increase the limit of its line of credit by $5,000,000 to a maximum of $25,000,000 and extended the maturity date to August 21, 2015. The Credit Agreement also included a ten-year term loan for $22,500,000 that requires equal monthly payments of $187,500 plus interest.

Synalloy is engaged in the following segments, the Metals segment and the Specialty Chemicals segment. The Metals segment manufactures welded pipe and tube, primarily from stainless steel, duplex, and nickel alloys; manufactures fiberglass and steel storage tanks; distributes hot finish, seamless, carbon steel pipe and tubing; and manufactures ornamental stainless steel tubing. The Specialty Chemicals segment manufactures lubricants, surfactants, defoamers, reaction intermediaries, and sulfated fats and oils, and provides chemical tolling manufacturing resources to global and regional companies and contracts with other chemical companies to manufacture certain pre-defined products.

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Company Name: 
Synalloy Corp.
Stock buyback: 
SYNL buyback
Website: 
www.synalloy.com
Sector: 
Non-Precious Metals & Non-Metallic Mining
Number of ETFs Holding SYNL: 
12
Total Market Value Held by ETFs: 
$8.08M
Total Market Capitalization: 
$118.00M
% of Market Cap. Held by ETFs: 
6.85%
 

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