FloWorks International LLC Announces the Sale of its Plate and Sheet Business
By Business Wire News
FloWorks International LLC (“FloWorks”), a specialty distributor of pipes, valves and fittings, announced the sale of its plate and sheet operations located in Garland, Texas to CL Alloys-Dallas LLC. The transaction closed on June 30, 2016. The location had sales of approximately $10 million for fiscal year 2015.
The Garland plate and sheet operations were the remaining assets of the legacy Fabrication and Distribution Services (“F&DS”) business, which FloWorks divested in 2014. This sale completes FloWorks exit from locations dedicated to the distribution of flat products and metal services.
Frank Riddick, FloWorks chief executive officer, stated, “The divestiture continues our previously announced efforts of focusing and growing our valve and automation and specialty pipes, fittings and flanges businesses. The team at our Garland location has performed extremely well given the exit from our F&DS business and challenging market conditions for their products and services. The transaction will enable the business and the team to continue to serve customers through the transaction with CL Alloys, a well-regarded supplier.”
FloWorks, formerly known as Shale-Inland, is a specialty industrial distributor that provides technical solutions to the energy and industrial sectors. Through our strategic locations in North America and Asia, FloWorks delivers a broad spectrum of valves and automation services along with specialty metal, pipe, fittings, flanges and related products just-in-time. Our close proximity to our customers allows us to act as a critical link in their supply chain. For more information, visit www.floworkspvf.com.
FloWorks International LLC
Robert Broyles, 713-669-4304