05:00 AM EDT, 03/13/2025 (MT Newswires) -- Ascent Industries ( ACNT ) said late Wednesday it has agreed to sell "substantially all" of steel pipe manufacturer Bristol Metals' assets to Ta Chen International for about $45 million in cash.

The transaction, expected to close on March 31, will help fund the growth of the company's specialty chemical business, Ascent Industries ( ACNT ) said.