Heat Treat Industry News

February 04, 2010

Worthington Industries Inc acquires strip steel assets from Gibraltar Industries Inc

Metals manufacturing company Worthington Industries Inc reported on Monday that its Steel Processing business unit has acquired the steel processing assets of Gibraltar Industries Inc.

Financial terms were not disclosed but Worthington said that it expects the deal to be accretive to its current fiscal year.

The acquisition will expand the capabilities of The Worthington Steel Company's cold rolled strip business.

As part of the deal Worthington acquired a 31% stake in Samuel Steel Pickling, a joint venture with operations in Cleveland and Twinsburg, Ohio.

Posted on: Feb 03, 2010 (M2 EQUITYBITES via COMTEX) --

Source: http://www.tradingmarkets.com/

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