{"id":457556,"date":"2021-03-15T08:43:08","date_gmt":"2021-03-15T12:43:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=457556"},"modified":"2021-03-15T08:43:08","modified_gmt":"2021-03-15T12:43:08","slug":"worthington-industries-divests-structural-composites-industries-facility","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/","title":{"rendered":"Worthington Industries Divests Structural Composites Industries Facility"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">COLUMBUS, Ohio, March  15, 2021  (GLOBE NEWSWIRE) &#8212; Worthington Industries, Inc. (NYSE: WOR) today announced that it sold its Structural Composites Industries (SCI) facility in Pomona, Calf., to Luxfer Holdings PLC (NYSE: LXFR).\u00a0\u00a0 Following the divestiture of the unprofitable operation, Worthington will continue to focus its investments and attention on the growing sustainable mobility markets in Europe and Asia where strict, mandated emissions reductions are accelerating growth in hydrogen and compressed natural gas (CNG). The Company will also continue to supply Self-Contained Breathing Apparatus (SCBA) cylinders for firefighters and first responders from its European locations to customers in Europe and Asia.<\/p>\n<p>\u201cWe are pleased to find a buyer that can better utilize this facility to efficiently serve the U.S. market,\u201d said Eric Smolenski, president of Worthington\u2019s Pressure Cylinders business. \u201cWe are grateful for the passion and dedication of our Pomona employees and wish them success moving forward.\u201d Smolenski continued, \u201cWe have made significant investments in our hydrogen and CNG design and manufacturing capabilities in Europe and will utilize these capabilities to drive innovative solutions into rapidly growing markets in Europe and Asia.\u201d<\/p>\n<p>Worthington has recently made substantial investments in its engineering and manufacturing capabilities in Europe that provide comprehensive systems for the storage, transport and use of alternative fuels like hydrogen and CNG. In addition to expanding the Company\u2019s existing composite cylinder facility in Poland, the Company has also constructed type III and type IV hydrogen cylinder production lines at its facility in Austria and recently acquired PTEC Pressure Technology GmbH in Germany, a leading designer and manufacturer of advanced valves and components for high-pressure hydrogen and CNG systems.<\/p>\n<p>\n        <strong>About Worthington Industries<\/strong><br \/>\n        <br \/>Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America\u2019s premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company\u2019s brands, primarily sold in retail stores, include Coleman<sup>\u00ae<\/sup>, Bernzomatic<sup>\u00ae<\/sup>, Balloon Time<sup>\u00ae<\/sup>, Mag Torch<sup>\u00ae<\/sup>, Well-X-Trol<sup>\u00ae<\/sup>, General<sup>\u00ae<\/sup>, Garden-Weasel<sup>\u00ae<\/sup>, Pactool International<sup>\u00ae<\/sup> and Hawkeye\u2122. Worthington\u2019s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.<\/p>\n<p>Headquartered in Columbus, Ohio, Worthington operates 50 facilities in 15 states and seven countries, sells into over 90 countries and employs approximately 7,500 people. Founded in 1955, the Company follows a people-first philosophy with earning money for its shareholders as its first corporate goal. Relentlessly finding new ways to drive progress and practicing a shared commitment to transformation, Worthington makes better solutions possible for customers, employees, shareholders and communities.<\/p>\n<p>\n        <strong>Safe Harbor Statement<\/strong><br \/>\n        <br \/>The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the \u201cAct&#8221;). Statements by the Company relating to its ability to increase market participation, expand and integrate capacity, increase efficiencies and reduce lead time, achieve growth in general and in specific markets, and other statements which are not historical information constitute &#8220;forward looking statements&#8221; within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks described from time to time in the Company&#8217;s filings with the Securities and Exchange Commission, including those related to COVID-19 and the various actions taken in connection therewith, which could also heighten other risks.<\/p>\n<p align=\"justify\">Contacts:<br \/><strong>SONYA\u00a0L.\u00a0HIGGINBOTHAM<\/strong><br \/>VP, CORPORATE COMMUNICATIONS AND BRAND MANAGEMENT<br \/>614.438.7391\u00a0|\u00a0sonya.higginbotham@worthingtonindustries.com<\/p>\n<p align=\"justify\">\n        <strong>MARCUS A. ROGIER<\/strong><br \/>\n        <br \/>TREASURER AND INVESTOR RELATIONS OFFICER<br \/>614.840.4663 | marcus.rogier@worthingtonindustries.com<\/p>\n<p align=\"justify\">200\u00a0Old\u00a0Wilson\u00a0Bridge\u00a0Rd.\u00a0|\u00a0Columbus,\u00a0Ohio\u00a043085<br \/>WorthingtonIndustries.com<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MDEwMiM0MDY0Mjg0IzIwMDk5NDY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/4e748c7e-09bc-4174-8e3e-722c73ea0760\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>COLUMBUS, Ohio, March 15, 2021 (GLOBE NEWSWIRE) &#8212; Worthington Industries, Inc. (NYSE: WOR) today announced that it sold its Structural Composites Industries (SCI) facility in Pomona, Calf., to Luxfer Holdings PLC (NYSE: LXFR).\u00a0\u00a0 Following the divestiture of the unprofitable operation, Worthington will continue to focus its investments and attention on the growing sustainable mobility markets in Europe and Asia where strict, mandated emissions reductions are accelerating growth in hydrogen and compressed natural gas (CNG). The Company will also continue to supply Self-Contained Breathing Apparatus (SCBA) cylinders for firefighters and first responders from its European locations to customers in Europe and Asia. \u201cWe are pleased to find a buyer that can better utilize this facility to efficiently serve the U.S. market,\u201d &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Worthington Industries Divests Structural Composites Industries Facility&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-457556","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Worthington Industries Divests Structural Composites Industries Facility - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Worthington Industries Divests Structural Composites Industries Facility - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"COLUMBUS, Ohio, March 15, 2021 (GLOBE NEWSWIRE) &#8212; Worthington Industries, Inc. (NYSE: WOR) today announced that it sold its Structural Composites Industries (SCI) facility in Pomona, Calf., to Luxfer Holdings PLC (NYSE: LXFR).\u00a0\u00a0 Following the divestiture of the unprofitable operation, Worthington will continue to focus its investments and attention on the growing sustainable mobility markets in Europe and Asia where strict, mandated emissions reductions are accelerating growth in hydrogen and compressed natural gas (CNG). The Company will also continue to supply Self-Contained Breathing Apparatus (SCBA) cylinders for firefighters and first responders from its European locations to customers in Europe and Asia. \u201cWe are pleased to find a buyer that can better utilize this facility to efficiently serve the U.S. market,\u201d &hellip; Continue reading &quot;Worthington Industries Divests Structural Composites Industries Facility&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-15T12:43:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MDEwMiM0MDY0Mjg0IzIwMDk5NDY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/worthington-industries-divests-structural-composites-industries-facility\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/worthington-industries-divests-structural-composites-industries-facility\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Worthington Industries Divests Structural Composites Industries Facility\",\"datePublished\":\"2021-03-15T12:43:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/worthington-industries-divests-structural-composites-industries-facility\\\/\"},\"wordCount\":619,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/worthington-industries-divests-structural-composites-industries-facility\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE5MDEwMiM0MDY0Mjg0IzIwMDk5NDY=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/worthington-industries-divests-structural-composites-industries-facility\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/worthington-industries-divests-structural-composites-industries-facility\\\/\",\"name\":\"Worthington Industries Divests Structural Composites Industries Facility - 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(NYSE: WOR) today announced that it sold its Structural Composites Industries (SCI) facility in Pomona, Calf., to Luxfer Holdings PLC (NYSE: LXFR).\u00a0\u00a0 Following the divestiture of the unprofitable operation, Worthington will continue to focus its investments and attention on the growing sustainable mobility markets in Europe and Asia where strict, mandated emissions reductions are accelerating growth in hydrogen and compressed natural gas (CNG). The Company will also continue to supply Self-Contained Breathing Apparatus (SCBA) cylinders for firefighters and first responders from its European locations to customers in Europe and Asia. \u201cWe are pleased to find a buyer that can better utilize this facility to efficiently serve the U.S. market,\u201d &hellip; Continue reading \"Worthington Industries Divests Structural Composites Industries Facility\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-15T12:43:08+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MDEwMiM0MDY0Mjg0IzIwMDk5NDY=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Worthington Industries Divests Structural Composites Industries Facility","datePublished":"2021-03-15T12:43:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/"},"wordCount":619,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE5MDEwMiM0MDY0Mjg0IzIwMDk5NDY=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/worthington-industries-divests-structural-composites-industries-facility\/","name":"Worthington Industries Divests Structural Composites Industries Facility - 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