This Slide: #73 of 100 |
Slide #73. Worthington Industries, Inc. — Stake in ARITAS
Acquirer:
Worthington Industries, Inc. (NYSE:WOR)
Acquiree:
Stake in ARITAS
Details:
Worthington Industries, Inc. (NYSE: WOR) announced that its Pressure Cylinders segment has signed an agreement to acquire a 75% stake in ARITAS, one of Europe's leading LNG (liquefied natural gas) and cryogenic technology companies offering a broad portfolio of LNG products, cryogenic vessels, systems and services. Located in Istanbul, Turkey, ARITAS employs nearly 300 people and generated sales of approximately $40 million for its fiscal year ending Dec. 31, 2013. The transaction is awaiting Turkish government approval, which is expected to be completed later this month.
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)
Analysts' Target Price: WOR Stock Forecast Based on Zacks ABR data; powered by Xignite |