Ascent Industries Co. announced on June 30, 2025, the successful closing of the previously announced sale of American Stainless Tubing, LLC (ASTI). The transaction involved the sale of ASTI to First Tube, LLC, a wholly owned subsidiary of Triple-S Steel Holdings, Inc., for $16 million in an all-cash transaction.
This sale represents the divestiture of Ascent's final operating tubular asset, marking a defining moment in the company's transformation. With this completion, Ascent is now a pure-play specialty chemicals company, fully aligned with its vision to build a scalable, high-margin chemicals platform.
Bryan Kitchen, President and CEO of Ascent, emphasized that this additional capital positions the company to reinvest in innovation, expand commercial reach, and pursue new growth opportunities. This strategic realignment is aimed at enhancing returns for shareholders and driving sustainable value creation in the specialty chemicals market.
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