A. M. Castle & Co. to Expand Presence in Oil & Gas Industry with Acquisition of Tube Supply, Inc.

A. M. Castle & Co. (NYSE: CAS), has announced today that it has executed a definitive agreement to acquire Houston, TX – based Tube Supply, Inc.. The purchase price of $165 million is subject to customary adjustments at closing, and the acquisition is expected to be immediately accretive to A. M. Castle's earnings. A. M. Castle expects to close the transaction by the end of the first quarter of 2012, subject to customary closing conditions and regulatory approvals.