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Slide #29. Worthington Industries — Tank manufacturing division of Steffes Corporation
Acquirer:
Worthington Industries (NYSE:WOR)
Acquiree:
Tank manufacturing division of Steffes Corporation
Details:
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 an industrial manufacturing company. Co.'s manufactured metal products include: pressure cylinders for liquefied petroleum gas, compressed natural gas, hydrogen, oxygen, refrigerant and other industrial gas storage; water well tanks for commercial and residential uses; hand torches and filled hand torch cylinders; propane-filled camping cylinders; helium-filled balloon kits; hand tools and instruments; and drywall tools and related accessories; and, through its joint ventures, complete ceiling grid solutions; laser welded blanks; light gauge steel framing for commercial and residential construction; engineered cabs, operator stations and cab components.
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Sell (1.33 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
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