Servimetal acquires stainless steel producer Perry Products
Bnamericas Published: Friday, June 03, 2005
Puerto Rico's largest flat metal products processor Servimetal, located in the eastern Caguas area, has acquired stainless steel producer Perry Products from the northern zone of Cataño near capital San Juan, Servimetal said in a statement. "This acquisition will enhance Servimetal's established growth goals and, through our financial strength, will put Perry Products in a better position to expand its reach, participate in bigger projects and foster future growth," the statement quoted Servimetal president and CEO Emilio Ortiz as saying. With the acquisition, sales of both companies will exceed US$25mn annually, El Nuevo Día newspaper said, without providing the value of the deal. Servimetal - a locally owned company - is the largest processor of flat metal products in the Caribbean. Its client base includes local and multinational companies. Perry Products manufactures stainless steel tubular and long products as well as valves for the oil and gas industries plus products used in the pharmaceutical and food sectors.
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