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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 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)
Based on Zacks ABR data;
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