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Slide #40. Worthington Industries — Westerman Companies
Worthington Industries (NYSE:WOR)
Worthington Industries, Inc. announced that its Pressure Cylinders segment has acquired the Westerman Companies, a manufacturer of tanks and pressure vessels for the oil and gas, nuclear and marine markets. The purchase price was $70 million, of which approximately $6 million went to pay down Westerman debt.
Worthington Industries is a metals manufacturing company, focused on steel processing and manufactured metal products. Co. operates two segments: Steel Processing, which buys coils of steel from integrated steel mills and mini-mills and processes them to the precise type, thickness, length, width, shape and surface quality required by customer specifications; and Pressure Cylinders, which manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, well water and expansion tanks, and oil and gas equipment along with various accessories and related products for various end-use market applications.
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Hold (2.00 out of 4)
(ranked lower than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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