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PTCA Press Releases

PTC Alliance Says Its Plant in Darlington, PA Continues Without Interruption

Pittsburgh, PA – May 16, 2017 – PTC Alliance Corp. said today that customers who do business with its plant in Darlington, Pennsylvania can rest assured that they will continue to receive the same high quality products under normal delivery schedules while the Company seeks to reach a consensual agreement with the union at that plant.

“Our management personnel have stepped up to the plate, and we are continuing to produce the same high-quality products that our customers have come to expect from us,” said Cary Hart, President and Chief Executive Officer of PTC Alliance. “Delivery trucks are entering and leaving freely, and we are continuing to receive raw materials as always.”

Approximately 40 workers represented by the United Steelworkers went on strike on May 12.  Prior to that time the Company had been negotiating in good faith with the union to reach a new agreement.

“PTC Alliance has a long history of working hand-in-hand with the union to provide the employees at the Darlington, Pennsylvania plant with wages and benefits that are among the highest in the industry,” said Eric Crump, Chief Operating Officer. “We are frankly disappointed that after establishing this kind of a relationship that the union would take such a counter-productive position.”

PTC Alliance has salaried, non-union employees working at the Darlington, Pennsylvania facility to ensure products continue to be shipped to customers on a timely basis. The Company’s other plants in Alliance, OH; Fairbury, IL; Richmond, IN; Chicago Heights, IL; Hannibal, MO; and Beaver Falls, PA continue to operate and are unaffected by the strike.

“Our door is currently open – in fact we’ve told the union that anyone is free to return at any time.  We hope we can reach an agreement that is mutually beneficial and secures the long-term viability of the plant,” said Mr. Crump.

For those who are interested, please visit our website at www.pctalliance.com to see videos of the current operations at the plant during the strike and press release as they are issued.

About PTC Alliance
PTC Alliance is a leading manufacturer and marketer of welded and cold drawn mechanical steel tubing and tubular shapes, fabricated parts, precision components and chrome-plated rod. The Company’s major customers include steel service centers, automotive and truck manufacturers, construction and agricultural equipment OEMs and machinery and appliance makers. With eight strategically located factories in North America, PTC Alliance is able to minimize lead time, shipping distance and expense for its customers.

 

PTC GROUP COMPLETES EXTENSION OF CREDIT AGREEMENTS

Wexford, PA, July 28, 2016 – PTC Group Holdings Corp., a leading manufacturer of welded and DOM steel tubing and related products, announced today the completion of an amendment and extension of its current term loan and revolver.  The Company said that its existing term loan agreement and ABL, which were due to expire under their terms later in 2016, have been extended until late 2019. The transactions will increase PTC’s liquidity and provide it with flexibility to expand on its leadership position in the precision tubing and bar market. 

Cary Hart, CEO and President of PTC Group said, “We want to thank our existing term loan lenders and our ABL lender, JP Morgan Chase, for their support in connection with this extension.  This action will make it possible for the Company to continue to invest in our world class technology in support of our existing and potential new customers and markets.”

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PTC Group Holdings Names New Chief Executive Officer

November 24, 2015

Wexford, PA- Effective immediately, Cary Hart will assume the additional duties of Chief Executive Officer at PTC Group Holdings along with his current duties as President and Board Member. 

Cary has been with the Company for 18 years in various roles within Operations, Sales and his most recent role as President of both PTC Alliance and PTC Group Holdings.   Christopher W. Parker, Chairman of the Board of PTC Group Holdings and Senior Managing Director at Black Diamond Capital Management, stated, “It gives me great pleasure to extend my congratulations to Cary Hart on his new role as CEO of PTC Group Holdings.  The Board of Directors is confident that Cary will be a champion of operational excellence and revenue growth as we move into a future focused on PTC’s core business.”

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PTC Alliance finalizes $65 Million secured facility with JP Morgan

PTC Alliance finalizes $65 Million secured facility with JP Morgan Chase; receives additional $10 Million contribution from sponsor

 WEXFORD, Pa., August 27, 2015 /PRNewswire/ PTC Group Holdings Corp. (“PTC”, or “Company”) a leading
manufacturer of welded and DOM steel tubing and related products announced today that it has finalized an
agreement with JPMorgan Chase (“Chase”), under which Chase will provide a $65 million secured loan facility.
In addition, PTC announced that affiliates of Black Diamond Capital Management, LLC, the Company’s private
equity sponsor, has made an additional investment of $10 million.

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Leadership changes at PTC Group Holdings

The Board of Directors of PTC Group Holdings Corp. announced today that Peter Whiting has resigned as Chairman, President and CEO to pursue new opportunities and spend more time with his family. Mr. Whiting’s departure is effective as of June 12, 2015. In addition, the Board has elected Christopher W. Parker as Chairman of the Board, Curtis G. Solsvig III as Chief Executive Officer and Director, and Cary Hart as President and Director, all effective June 12, 2015, as well.

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PTC Alliance Emphasizes Business as Usual

WEXFORD, PA – April 27, 2015 – PTC Alliance Corp. (“PTC Alliance”) announced today that the Chapter 11 bankruptcy filing of PTC Seamless (“Seamless”) will have no impact on PTC Alliance’s operations, customers, vendors or employees.

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PTC Alliance Acquires Niagara LaSalle Chrome Bar Business

Pittsburgh, PA – (July 7, 2014) – PTC Alliance Corp. today announced its acquisition of the assets of Niagara LaSalle’s Chrome Bar operations in Griffith, IN. Terms of the acquisition were not disclosed but the sale closing is anticipated to occur on or around July 31, 2014.

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PTC Alliance Launches Website

Wexford, PA (June 3rd, 2013) – PTC Alliance is pleased to announce the re-launch of its website at www.ptcalliance.com. The team has created a new website that provides customers, employees, job candidates, suppliers, investors and other stakeholders with enhanced access to key information about the company’s products and technical solutions. 

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ECOBAR27

PTC Alliance has announced the registration of trademark protection for the brand name ECOBAR27 along with the ECOBAR27 logo and slogan “Making a World of Difference”.  ECOBAR27 is a nano cobalt phosphorus (nCoP) plating alternative to hexavalent hard chrome.  The technology for this patented plating alternative was developed in conjunction with the patent holder Integran Technologies of Toronto Canada for hydraulic cylinder applications through the PTC Alliance division Enduro Industries located in Hannibal, Missouri.   

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