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PTCA Press Releases

PTC Alliance And Beaver Falls, PA Union Reach Early Labor Agreement

Beaver Falls, PA – March 9, 2018 – Union employees at PTC Alliance’s Beaver Falls, Pennsylvania plant have approved a new 3-year labor contract. The agreement was ratified on March 8, more than two (2) months prior to the expiration of the current agreement.

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PTC Alliance And Chicago Heights, IL Union Reach New Agreement

Chicago Heights, IL – December 11, 2017 – Hourly employees at PTC Alliance’s Chicago Heights, Illinois plant have approved a new 3-year labor contract. The agreement was ratified on December 8 following final discussions between the parties.

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USITC Votes To Continue Investigations On Cold-Drawn Mechanical Tubing From China, Germany, India, Italy, Korea, And Switzerland

June 2, 2017
News Release 17-080
Inv. No. 701-TA-576-577 and 731-TA-1362-1367 (Preliminary)
Contact: Peg O’Laughlin, 202-205-1819

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US. Producers of Cold-Drawn Steel Mechanical Tubing File Trade Petitions Against Six Countries

FOR IMMEDIATE RELEASE

Contact: Alan Luberda, Kelley Drye & Warren LLP, (202) 342-8835

US. Producers of Cold-Drawn Steel Mechanical Tubing

File Trade Petitions Against Six Countries

< (Washington, D.C.) (April 19, 2017) — Five U.S. steel tubular products manufacturers — ArcelorMittal Tubular Products, Michigan Seamless Tube, LLC, PTC Alliance Corp.,

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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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