Steel Products
Pipe & Tube Manufacturer Zekelman Industries Seeks IPO
Written by Sandy Williams
August 19, 2018
Zekelman Industries, Inc., a manufacturer of steel pipe and tube, has filed for an initial public offering with the U.S. Securities and Exchange Commission.
The company listed an offering of $100 million and hopes to complete its IPO this year, according to Bloomberg. Zekelman posted net income of $161 million on net sales of $2.1 billion for FY 2017, up from net income of $68 million the previous year. The company is seeking a valuation of approximately $5 billion.
{loadposition reserved_message}
The Zekelman family has privately owned the company since 2011 and is expected to retain a controlling interest after the IPO.
Zekelman Industries is the largest independent steel pipe and tube manufacturer in North America and includes operating divisions Atlas Tube, Picoma, Sharon Tube, Wheatland Tube, Western Tube and Z Modular.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
CRU tariff webinar replay now available
CRU’s latest webinar replay on how Trump’s tariffs affect the global steel market is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. You’ll find not only this special CRU webinar but also all past Community […]
US, offshore CRC prices diverge
US cold-rolled (CR) coil prices declined this week, slipping for the first time since early February. Most offshore markets deviated, moving higher this week.
Construction growth slowed in March on tariff woes: Dodge
The decline comes after reaching a record high in January to kickstart the year.
Return of S232 zapped gap between US and EU HR prices, Asian HR remains cheaper
Domestic hot-rolled (HR) coil prices declined this week for a third straight week. Most offshore markets bucked the trend and gained ground. Uncertainty in the US market around tariffs, especially after “Liberation Day,” caused US prices to slip as buyers moved to the sidelines. It’s unclear to date whether the 90-day pause on the more […]