Posted on May 17, 2013
Spartanburg, South Carolina, May 17, 2013…Synalloy Corporation (Nasdaq:SYNL), a holding company
owning subsidiaries that engage in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that on May 16, 2013 its Bristol Metals, LLC subsidiary, joined by co-petitioners Felker Brothers Corp. and Outokumpu Stainless Pipe filed antidumping duty petitions with the Department of Commerce and the U.S. International Trade Commission alleging that welded stainless pressure pipe imported from Malaysia, Thailand and Vietnam were being dumped inthe U.S. market.
Kyle Pennington, President of Bristol Metals, stated “imports of welded stainless pressure pipe from these three countries have increased substantially over the past 3 years at prices well below domesticmark et prices. Because these are commodity products, this has had a negative impact on our salesvolu mes and forced us to decrease our selling prices, which lowered Bristol’s financial results asdem onstrated in recent earnings reports. We are glad our domestic competitors joined with us in seeking relief from these unfairly traded imports.”
Between 2010 and 2012 imports of welded stainless steel pressure pipe from Malaysia, Thailand and
Vietnam increased from 14,000 tons to 17,000 tons and have taken a significant share of a relatively stagnant U.S. market. The petitions alleged dumping margins of: 15% to 17% for Malaysia, 13% to 15% for Thailand and 70% to 71% for Vietnam. The International Trade Commission (“ITC”) will address this matter at a staff conference on June 6, 2013. The ITC will make a preliminary determination prior to July 1, 2013 and the Department of Commerce preliminary dumping determination is due on December 12, 2013. Even though the Company has been successful in past litigation involving antidumping petitions, this case is pending and there is no assurance that this suit will result in a favorable outcome to the plaintiffs.
The same petitioners filed petitions against dumped and subsidized imports of welded stainless pipe
from China and antidumping and countervailing duties against welded stainless pressure pipe imports
from China were imposed in 2009.
For more information about Synalloy Corporation, please visit our web site at www.synalloy.com.
Contact: Rick Sieradzki at (864) 596-1558
Posted on September 24, 2012
Synalloy Corporation, a producer and fabricator of stainless steel and carbon pipe and piping systems and producer of specialty chemicals, announces that its Bristol Metals, LLC (BRISMET) subsidiary has been awarded a project contract by Bechtel. The project is for essential service water buried pipe replacement and is nuclear safety related. BRISMET is an ASME “NPT” (nuclear) certificate holder for the manufacture of welded pipe.
The scope of the project encompasses approximately six miles of fusion bond epoxy-coated pipe with pipe bends, fittings and flanges. Production is expected to begin in the fourth quarter of 2012 and should be completed in the middle of 2013. Located in Bristol, TN, Bristol Metals is a leader in welded pipe and piping systems in the United States and has been an industry leader in stainless, duplex, super duplex, 6 moly, nickel alloy and titanium welded steel pipe manufacture since 1941.
For more information about Synalloy Corporation, please visit our web site at www.synalloy.com.
Forward-looking Statements
Statements included herein that are not historical in nature, are intended to be, and are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about our industry, our business, our customer relationships, management’s beliefs and assumptions made by management. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict and, in many cases, are beyond the control or knowledge of management. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information concerning some of the factors that could cause materially different results is included in our reports on forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission’s public reference facilities and its website, www.sec.gov.
Posted on April 27, 2012
Synalloy, the parent company of BRISMET, trades on the NASDAQ Global Market under the symbol SYNL. Synalloy is structured as a holding company, currently comprised of two major groups: Metals and Chemicals. Its operating units include Manufacturers Chemicals, LLC, BRISMET, LLC, BristolFab, LLC and Ram-Fab, LLC. Headquartered in Spartanburg, South Carolina, Synalloy and its affiliates currently employ over 450 people with operations in Tennessee, Georgia and Arkansas.
Synalloy 1Q 2012 Earnings Release (PDF)
Posted on April 27, 2012
Synalloy, the parent company of BRISMET, trades on the NASDAQ Global Market under the symbol SYNL. Synalloy is structured as a holding company, currently comprised of two major groups: Metals and Chemicals. Its operating units include Manufacturers Chemicals, LLC, BRISMET, LLC, BristolFab, LLC and Ram-Fab, LLC. Headquartered in Spartanburg, South Carolina, Synalloy and its affiliates currently employ over 450 people with operations in Tennessee, Georgia and Arkansas.
Synalloy 4Q 2011 Earnings Release (PDF)
Posted on January 17, 2012
Synalloy, the parent company of BRISMET, trades on the NASDAQ Global Market under the symbol SYNL. Synalloy is structured as a holding company, currently comprised of two major groups: Metals and Chemicals. Its operating units include Manufacturers Chemicals, LLC, BRISMET, LLC, BristolFab, LLC and Ram-Fab, LLC. Headquartered in Spartanburg, South Carolina, Synalloy and its affiliates currently employ over 450 people with operations in Tennessee, Georgia and Arkansas.
Synalloy Corporation Announces Dividend Payment 11-11-11 (PDF)
Synalloy 3Q 2011 Earnings Release (PDF)