Ascent Industries announces completion of sale of Bristol Metals for $45M

Ascent Industries (ACNT) announced the successful closing of the previously announced sale of substantially all of the assets of Bristol Metals to Ta Chen International, a global manufacturer and distributor of stainless and aluminum products, for approximately $45M in an all-cash transaction. “We are pleased to have completed the sale of BRISMET to Ta Chen, marking an important milestone for Ascent,” said Bryan Kitchen, President and Chief Executive Officer of Ascent. “This transaction unlocks meaningful value for our shareholders and allows us to focus our resources on expanding our Specialty Chemicals business, where we see significant growth opportunities. We are confident that BRISMET is well positioned for continued success under Ta Chen’s ownership.”