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Slide #29. Worthington Industries — Tank manufacturing division of Steffes Corporation
Worthington Industries (NYSE:WOR)
Tank manufacturing division of Steffes Corporation
Worthington Industries, Inc. (NYSE: WOR) today announced that it has reached an agreement to acquire the tank manufacturing division of Steffes Corporation. Steffes manufactures oilfield storage tanks for customers drilling in the Bakken shale and Williston Basin region out of a manufacturing facility located in Dickinson, N.D. The business generated $25 million in revenue in 2013. Terms of the deal were not disclosed.
Worthington Industries is a metals manufacturing company, focused on steel processing and manufactured metal products. Co. operates three segments: Steel Processing, which buys coils of steel from integrated steel mills and mini-mills and processes them to customer specifications; Pressure Cylinders, which manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, well water and expansion tanks, and oil and gas equipment with accessories and related products for end-use market applications; and Engineered Cabs, which designs and manufactures custom-engineered open and enclosed cabs and operator stations and custom fabrications and packaging for mobile equipment.
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Hold (2.00 out of 4)
(ranked lower than approx. 100% of all stocks covered)
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