Greenville Tube S-4/A Registration of securities issued in business combination transactions (amended)

Table of Contents

Exhibit 12

Computation of Ratio of Earnings to Fixed Charges

			Predecessor																														Successor						Predecessor												Successor
			Fiscal Years ended January 31,																																				Six Months Ended July 31, 2005						Period February 1, 2006 through February 7, 2006						Period February 8, 2006 through July 31, 2006						Pro Forma Six Months Ended July 31, 2006
			2002						2003						2004						2005						2006						Pro Forma 2006
																											(dollars in thousands)
Earnings:
Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees				$	(1,616	)				$	(1,577	)				$	162					$	11,960					$	15,926					$	4,118					$	12,731					$	(6,740	)				$	(728	)				$	2,260
Plus:
Fixed charges					19,951						16,126						15,362						14,537						17,398						27,575						7,669						368						12,232						14,296
Total earnings, before fixed charge addition				$	18,335					$	14,549					$	15,524					$	26,497					$	33,324					$	31,693					$	20,400					$	6,372					$	11,504					$	16,556
Fixed charges:
Interest expensed and capitalized				$	19,146					$	15,226					$	14,551					$	13,882					$	16,838					$	27,025					$	7,399					$	336					$	11,966					$	13,998
Plus:
Amortized premiums, discounts and capitalized expenses related to indebtedness					367						387						276						137						10						—						10						—						—						—
Estimate of the interest within rental expense (1/3 of rent expense)					438						513						535						518						550						550						260						32						266						298
Total fixed charges				$	19,951					$	16,126					$	15,362					$	14,537					$	17,398					$	27,575					$	7,669					$	368					$	12,232					$	14,296
Ratio of earnings to fixed charges(1)					0.92						0.90						1.01						1.82						1.92						1.15						2.66						(17.32	)					0.94						1.16

(1)	Fixed charges exceeded earnings by $1,616, $1,577, $6,740 and $728 in fiscal 2002, fiscal 2003, the period February 1, 2006 through February 7, 2006 and the period February 8, 2006 through July 31, 2006, respectively.