Ascent Industries Co. to Sell American Stainless Tubing for $16 Million, Finalizing Strategic Portfolio Shift

Reuters

26 Jun

<a href="https://laohu8.com/S/ACNT">Ascent Industries Co.</a> to Sell American Stainless Tubing for $16 Million, Finalizing Strategic Portfolio Shift

Ascent Industries Co. (Nasdaq: ACNT) announced that it has entered into an Asset Purchase Agreement to sell substantially all assets of American Stainless Tubing, LLC $(ASTI)$ to First Tube, LLC, a subsidiary of Triple-S Steel Holdings, Inc., for approximately $16 million in an all-cash transaction. This move marks the final step in Ascent's strategic portfolio realignment, shifting focus to its core specialty chemicals operations. The transaction is expected to close on June 30, 2025. Bryan Kitchen, President and CEO of Ascent, highlighted that the sale of ASTI underscores the company's commitment to becoming a high-return specialty chemicals platform.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ascent Industries Co. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000095953-25-000054), on June 25, 2025, and is solely responsible for the information contained therein.

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(Nasdaq: ACNT) announced that it has entered into an Asset Purchase Agreement to sell substantially all assets of American Stainless Tubing, LLC <a href=\"https://laohu8.com/S/ASTI\">$(ASTI)$</a> to First Tube, LLC, a subsidiary of Triple-S Steel Holdings, Inc., for approximately $16 million in an all-cash transaction. This move marks the final step in Ascent's strategic portfolio realignment, shifting focus to its core specialty chemicals operations. The transaction is expected to close on June 30, 2025. Bryan Kitchen, President and CEO of Ascent, highlighted that the sale of ASTI underscores the company's commitment to becoming a high-return specialty chemicals platform.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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(Nasdaq: ACNT) announced that it has entered into an Asset Purchase Agreement to sell substantially all assets of American Stainless Tubing, LLC <a href=\"https://laohu8.com/S/ASTI\">$(ASTI)$</a> to First Tube, LLC, a subsidiary of Triple-S Steel Holdings, Inc., for approximately $16 million in an all-cash transaction. This move marks the final step in Ascent's strategic portfolio realignment, shifting focus to its core specialty chemicals operations. The transaction is expected to close on June 30, 2025. Bryan Kitchen, President and CEO of Ascent, highlighted that the sale of ASTI underscores the company's commitment to becoming a high-return specialty chemicals platform.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ascent Industries Co. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000095953-25-000054), on June 25, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4006","symbol_name":"钢铁","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250625:nNDL2vcSJs:1","article_id":"2546266862","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2546266862","pubTimestamp":1750884548,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Ascent Industries Co.  announced that it has entered into an Asset Purchase Agreement to sell substantially all assets of American Stainless Tubing, LLC  to First Tube, LLC, a subsidiary of Triple-S Steel Holdings, Inc., for approximately $16 million in an all-cash transaction. 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