Synalloy to relocate HQ to Fountain Inn
August 29, 2013
Spartanburg-based holding company Synalloy Corp. has acquired the business assets of Color Resources LLC and its plant in Fountain Inn.
The purchase price for the facility at 300 International Blvd. was $3.45 million. Synalloy – a producer of stainless steel pipe, fiberglass and steel storage tanks and specialty chemicals – plans to relocate its headquarters to Fountain Inn by early 2014.
Color Resources has 20 employees and Synalloy plans to keep the majority of them, said Synalloy spokesman Rick Sieradzki. He said Synalloy has about 12 employees at the corporate office in Spartanburg.
“We are growing,” Sieradzki said.
Synalloy over the next 18 months plans to invest about $3.5 million in the Fountain Inn operation. Color Resources, which will continue as CRI Tolling LLC, will provide 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 and its product line of defoamers, surfactants and lubricants used in paper, carpet, textile, metal working, household, industrial and institutional chemicals, petroleum, mining, latex adhesives and agriculture.
Read the full article from GSA Business.