Worthington’s cylinder unit buying Turkish tank builder

Jan 07, 2014 | 11:40 AM | Corinna Petry

Tags  Worthington Industries, Aritas, liquefied natural gas, LNG, containers, tanks, John McConnell, Philip Gibbs KeyBanc Capital Markets

CHICAGO — Worthington Industries Inc.’s Pressure Cylinders business is set to acquire a 75-percent stake in Arıtaş Basınçlı Kaplar Sanayi AŞ (Aritas), an Istanbul-based company that builds liquefied natural gas (LNG) tanks, cryogenic vessels and systems.

The deal is contingent on Turkish government approval, which is expected later this month, Columbus, Ohio-based Worthington said.....

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