Worthington Industries Divests Structural Composites Industries Facility
2021年3月15日 - 9:39PM
Worthington Industries, Inc. (NYSE: WOR) today announced that it
sold its Structural Composites Industries (SCI) facility in Pomona,
Calf., to Luxfer Holdings PLC (NYSE: LXFR). Following
the divestiture of the unprofitable operation, Worthington will
continue to focus its investments and attention on the growing
sustainable mobility markets in Europe and Asia where strict,
mandated emissions reductions are accelerating growth in hydrogen
and compressed natural gas (CNG). The Company will also continue to
supply Self-Contained Breathing Apparatus (SCBA) cylinders for
firefighters and first responders from its European locations to
customers in Europe and Asia.
“We are pleased to find a buyer that can better utilize this
facility to efficiently serve the U.S. market,” said Eric
Smolenski, president of Worthington’s Pressure Cylinders business.
“We are grateful for the passion and dedication of our Pomona
employees and wish them success moving forward.” Smolenski
continued, “We have made significant investments in our hydrogen
and CNG design and manufacturing capabilities in Europe and will
utilize these capabilities to drive innovative solutions into
rapidly growing markets in Europe and Asia.”
Worthington has recently made substantial investments in its
engineering and manufacturing capabilities in Europe that provide
comprehensive systems for the storage, transport and use of
alternative fuels like hydrogen and CNG. In addition to expanding
the Company’s existing composite cylinder facility in Poland, the
Company has also constructed type III and type IV hydrogen cylinder
production lines at its facility in Austria and recently acquired
PTEC Pressure Technology GmbH in Germany, a leading designer and
manufacturer of advanced valves and components for high-pressure
hydrogen and CNG systems.
About Worthington IndustriesWorthington
Industries (NYSE:WOR) is a leading industrial manufacturing company
delivering innovative solutions to customers that span many
industries including transportation, construction, industrial,
agriculture, retail and energy. Worthington is North America’s
premier value-added steel processor and producer of laser welded
products; and a leading global supplier of pressure cylinders and
accessories for applications such as fuel storage, water systems,
outdoor living, tools and celebrations. The Company’s brands,
primarily sold in retail stores, include Coleman®, Bernzomatic®,
Balloon Time®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®,
Pactool International® and Hawkeye™. Worthington’s WAVE joint
venture with Armstrong is the North American leader in innovative
ceiling solutions.
Headquartered in Columbus, Ohio, Worthington operates 50
facilities in 15 states and seven countries, sells into over 90
countries and employs approximately 7,500 people. Founded in 1955,
the Company follows a people-first philosophy with earning money
for its shareholders as its first corporate goal. Relentlessly
finding new ways to drive progress and practicing a shared
commitment to transformation, Worthington makes better solutions
possible for customers, employees, shareholders and
communities.
Safe Harbor StatementThe Company wishes to take
advantage of the Safe Harbor provisions included in the Private
Securities Litigation Reform Act of 1995 (the “Act"). Statements by
the Company relating to its ability to increase market
participation, expand and integrate capacity, increase efficiencies
and reduce lead time, achieve growth in general and in specific
markets, and other statements which are not historical information
constitute "forward looking statements" within the meaning of the
Act. All forward-looking statements are subject to risks and
uncertainties which could cause actual results to differ from those
projected. Factors that could cause actual results to differ
materially include risks described from time to time in the
Company's filings with the Securities and Exchange Commission,
including those related to COVID-19 and the various actions taken
in connection therewith, which could also heighten other risks.
Contacts:SONYA L. HIGGINBOTHAMVP,
CORPORATE COMMUNICATIONS AND BRAND
MANAGEMENT614.438.7391 | sonya.higginbotham@worthingtonindustries.com
MARCUS A. ROGIERTREASURER AND
INVESTOR RELATIONS OFFICER614.840.4663 |
marcus.rogier@worthingtonindustries.com
200 Old Wilson Bridge Rd. | Columbus, Ohio 43085WorthingtonIndustries.com
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