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Thc Wallace Company, Inc., distributed industrial pipes, valves, fittings, and specialty products serving the refining, chemical, and petrochemical industries. The company had been owned and operated by the Wallace family since its founding in 1942 by C. S. Wallace Sr. With corporate offices in Houston, Texas, and nine branch offices in Texas, Louisiana, and Alabama, the company employed 280 people and realized sales of approximately $90 million in 1990. The Wallace Company distributed products directly in the Gulf Coast area and to international markets.