Ascent Industries (ACNT) said late Wednesday it has agreed to sell "substantially all" of steel pipe manufacturer Bristol Metals' assets to Ta Chen International for about $45 million in cash.
The transaction, expected to close on March 31, will help fund the growth of the company's specialty chemical business, Ascent Industries said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.