Synalloy's Metals Subsidiaries Awarded $22.5 Million for Two Fabrication Projects

SPARTANBURG, S.C., Aug. 14, 2013 (GLOBE NEWSWIRE) -- Synalloy Corporation (Nasdaq:SYNL), a growth oriented company that engages in a number of diverse business activities including the production of stainless steel pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication of stainless and carbon steel piping systems, announces that their Synalloy Fabrication subsidiary secured $22.5 million in new fabrication bookings in the past 2 weeks. These bookings are comprised of a Louisiana chemical plant project amounting to $15.8 million and a Baltimore, Maryland-based waste water treatment project for $6.7 million. Both of these projects should ship complete during 2014 based on the respective project schedules and increased staffing at our Bristol, TN and Crossett, AR production facilities. The recent bookings increased our Synalloy Fabrication backlog to more than $58 million, an increase of 200% from January 1^st, 2013 and the largest backlog in more than a decade.

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Forward-looking Statements

Statements included herein that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about our industry, our business, our customer relationships, management's beliefs and assumptions made by management. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict and, in many cases, are beyond the control or knowledge of management. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Additional information concerning some of the factors that could cause materially different results is included in our reports on forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission's public reference facilities and its website, http://www.sec.gov.

CONTACT: Rick Sieradzki at (864) 596-1558

Released August 14, 2013