Worthington Industries is a global, diversified, metals manufacturing company.
For 60 years, we have been North American’s premier, value-added steel processor, providing customers with wide ranging capabilities, products and services for a variety of markets including automotive, construction and agriculture.Worthington is also the leading global supplier of pressure tanks and cylinders. The company manufactures a host of pressure cylinders products for industrial gas and cryogenic applications, transportation and alternative fuel storage, oil and gas equipment, and consumer brand retail products, including Bernzomatic, Coleman and Balloon Time.
We have built a reputation on quality, safety and regulatory compliance, ensuring the protection of our employees, customers and industry. In fact, designing and building protective structures is another one of our specialties. Worthington manufactures custom-engineered, open and enclosed cabs, and operator stations for the smallest utility equipment to the largest earth-moving machinery in the world.
Our metals manufacturing expertise also extends to laser-welded blanks for vehicle light-weighting applications, automotive racking systems and through joint ventures, complete ceiling grid solutions, automotive tooling and stampings, and steel framing for commercial construction.
No matter the product or service, Worthington puts people first. Since its founding in 1955, Worthington has operated on a philosophy rooted in the Golden Rule, which serves as the basis for an unwavering commitment to the customer, supplier and shareholder, and as the Company’s foundation for one of the strongest employee-employer partnerships in American industry.
COLUMBUS, OH – November 23, 2015 -
Worthington Industries, Inc. (NYSE: WOR) announced today that its Cryogenics
business in the Pressure Cylinders segment is purchasing the assets of the
global CryoScience business of Taylor Wharton, including a manufacturing
facility in Theodore, Ala. Worthington will also acquire certain other
intellectual property and manufacturing assets of Taylor Wharton focused on
the cryogenic industrial and LNG markets. The asset purchase is being made
pursuant to the Chapter 11 bankruptcy proceedings of Taylor Wharton for
$33.25 million and is expected to close on or about Dec. 7.
The CryoScience product line includes cryogenic biologic specimen storage,
dewars/shippers, controls and data management solutions for global
biomedical research and development, healthcare, bio-banking,
pharmaceutical, biotechnology and animal husbandry markets. The business
also distributes products through warehouses located in Germany and
Australia.
“This purchase extends our cryogenic capabilities into new, global end
markets in life science and healthcare,” said Sean Murray, general manager
of Worthington’s Cryogenics business. “Taylor Wharton began manufacturing
its CryoScience product in 1957 and has developed a robust portfolio of
quality products and a strong distribution network in the bioscience space,
which we plan to grow. We are also excited about the U.S. manufacturing
platform the Alabama facility affords us as we grow in cryogenic industrial
gas and LNG.”
Worthington plans to leverage the manufacturing assets of the Theodore,
Ala., facility to produce hydrogen, industrial gas and LNG cryogenic
transport trailers that are currently being produced in its Boston facility
(formerly James Russell Engineering), and eventually move all transport
trailer production to Alabama. In the future, this facility could also
provide industrial and LNG products such as bulk, microbulk and engineered
systems for gas and liquid applications in markets including energy
production, industrial fabrication and manufacturing, and hydrogen
distribution.
