Cylinder business driving Worthington

Mar 22, 2013 | 12:30 PM | Corinna Petry

Tags  Worthington Industries, steel, cylinders, acquisitions, Andy Rose, Mark Russell, John McConnell, energy natural gas

CHICAGO — Worthington Industries Inc.’s pressure cylinder business continues to grow, with the unit’s employed capital now outpacing that of its steel segment and more acquisitions likely on the radar, the company’s top executives said.

"The continued strong growth of cylinders has driven us to a notable milestone in the history of Worthington," president and chief operating officer Mark A. Russell said during an earnings call March 21. "Since 1955, the steel company has been Worthington’s largest entity by all key measures. The growth of cylinders has been so significant that we now have more capital employed in the cylinders business than in the steel company."....

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