Synalloy acquires CRI, expands specialty chemicals segment

Synalloy Corporation (Spartanburg, S.C.; www.synalloy.com), a company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon piping systems, announces the acquisition of the business assets of Color Resources, LLC (CRI) and the building and land located in Fountain Inn, South Carolina where CRI was the sole tenant. CRI Tolling, LLC, a South Carolina limited liability company and wholly owned subsidiary of Synalloy, will continue CRI’s business as that of a toll manufacturer that provides outside manufacturing resources to global and regional chemical companies. CRI Tolling will operate as a division of Synalloy’s Specialty Chemicals Segment, which includes Manufacturers Chemicals (MC). MC is said to be one of the largest custom chemical formulators and contract manufacturers in the U.S. Its principal products include defoamers, surfactants and lubricants, which are used in multiple markets including paper, carpet, textile, metal working, household, industrial and institutional chemicals, petroleum, mining, latex adhesives and agriculture.