Search on
News Title
News Details
Reports/Directory
Glossary
 
Title_head
Worthington Industries to acquire Structural Composites Industries
26 times viewed.
Saturday, 05 Sep 2009
EmailButton
Pdf_button

Worthington Industries Inc announced that its Worthington Cylinders business segment has purchased Structural Composites Industries LLC.

SCI is a leading manufacturer of DOT approved lightweight, aluminum lined, composite wrapped high pressure cylinders used in commercial, military, marine and aerospace applications. Product lines include cylinders for alternative fuel vehicles using natural gas or hydrogen, self contained breathing apparatus SCBA, aviation oxygen and escape slides, military applications, home oxygen therapy, and advanced & cryogenic structures.

SCI is located at Pomona in California and has approximately 150 employees. Revenues were approximately USD 36 million in calendar year 2008. The transaction is expected to be modestly accretive in the first year.

Mr John P McConnell chairman & CEO of Worthington Industries said “With this acquisition we continue to execute on our strategy to grow the pressure cylinder business, with a focus on broadening the portfolio beyond its original, core markets.”

Mr Harry Goussetis president of Worthington Cylinders added that “SCI’s expertise in manufacturing composite cylinders and their strong management team are the perfect complement to our existing steel and aluminum product lines. This business is our entry into weight critical applications and it will expand our opportunities in the faster growing alternative fuels and SCBA sectors.”

Worthington Cylinders is the world’s leading global supplier of pressure cylinders, continually delivering solutions to its customers while exceeding their expectations in quality, service and value. Worthington Cylinders offers the most complete line of pressure cylinders in the industry, including liquefied petroleum; refrigerant and industrial gas cylinders, airbrake tanks and consumer products.

Worthington Industries is a leading diversified metal processing company with annual sales of approximately USD 2.6 billion.

Expanded Metal by Anping County Huijin Wire Mesh Co., Ltd.
Galvanized Steel by Beijing Xinruilufeng Industry and Trade Co., Ltd.
Galvanized Sheets Manufacturers & Suppliers
Hot Dip Galvanized Steel Manufacturers & Suppliers

sail
cbmm
ferrotech
Ferroalloys
More International News
 
Disclaimer|Copyright Policy|Privacy Policy|About us|Feedback|Contact us|FAQ|Site Map|Know about SteelGuru