Friedman industries, incorporated expands with major acquisition of plateplus, inc. operations

Longview, texas, may 02, 2022 (globe newswire) -- friedman industries, incorporated (“friedman”) (nyse american: frd), a texas-based company engaged in steel processing and distribution as well as pipe manufacturing through its division texas tubular products, announced today that it has acquired two high-quality, strategically located facilities from plateplus, inc. (“plateplus”), positioning friedman as a leading north american steel service center with an expanded geographic presence, scale and processing capabilities. in addition to the facilities acquired, friedman also purchased the steel inventory and customer relationships at two additional plateplus locations. the parties executed an agreement related to the transaction on april 26, 2022 and closed the transaction effective at the end of business on april 30, 2022.
FRD Ratings Summary
FRD Quant Ranking