Ascent Industries Co., a specialty chemicals producer and distributor, an-nounced that it will sell substantially all assets of American Stainless Tubing, LLC (ASTI) to First Tube, LLC, a Triple-S Steel Holdings subsidiary. The all-cash trans-action, valued at around US$16 million, is expected to close on June 30, 2025, subject to customary closing conditions.

ASTI is a recognized leader in ornamental stainless-steel tubing. Ascent's Presi-dent and CEO, Bryan Kitchen, said this sale, the last of their tubular assets, completes their pivot to a focused, high-return specialty chemicals platform.

Proceeds from the deal will fund growth initiatives within Ascent's Specialty Chemicals segment and for general corporate purposes.