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Wednesday, September 19, 2012

Worthington Industries Positions Itself to Profit From Utica Shale

From The Columbus Dispatch:
Worthington Industries yesterday announced an acquisition that will allow it to benefit from the oil and gas coming from Ohio’s Utica shale.
Columbus-based Worthington paid $70 million for Westerman Cos., which makes and sells storage tanks to the oil and gas industry.
Westerman, which has about 225 employees, is based in Bremen in Fairfield County and also has a plant in Wooster. There are no plans to change the staffing, said Worthington spokeswoman Cathy Lyttle.
The newly acquired company will become part of Worthington’s pressure-cylinders business, continuing several years of expansion for a part of the company that makes fuel tanks for gas grills and helium tanks used to inflate balloons, among other products.
Read the rest of the article here. 

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