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Slide #9. Worthington Industries, Inc. — 75 percent stake in Aritas Basincli Kaplar Sanayi A.S.
Worthington Industries, Inc. (NYSE:WOR)
75 percent stake in Aritas Basincli Kaplar Sanayi A.S.
Worthington Industries, Inc. (NYSE: WOR) announced today that its Pressure Cylinders segment has completed its acquisition of a 75 percent stake in Aritas Basincli Kaplar Sanayi A.S. (ARITAS), one of Europe's leading LNG (liquefied natural gas) and cryogenic technology companies. The remaining 25 percent stake was retained by the prior owners. Purchase price was approximately $36.6 million.
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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