WORTHINGTON INDUSTRIES, INC. (NYSE:WOR) Files An 8-K Other Events
Item 8.01.Other Events.
On December 31, 2018, the Pressure Cylinders segment of Worthington Industries, Inc. (the “Company”) sold the operating assets and real property related to its solder business to an affiliate of Lincoln Electric Holdings, Inc. (“Lincoln”).In addition, the parties have entered into a purchase agreement to which Lincoln will acquire certain brazing assets from the Company. The anticipated closing of the sale of the brazing assets is February 1, 2019, subject to customary closing conditions.
The Company does not expect these transactions to materially impact its operations going forward.
About WORTHINGTON INDUSTRIES, INC. (NYSE:WOR)
Worthington Industries, Inc. is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company’s segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors. The Pressure Cylinders segment manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, and oil and gas equipment along with various accessories and related products for end use market applications. The Engineered Cabs is a non-captive designer and manufacturer of custom-engineered open and enclosed cabs and operator stations and custom fabrications for heavy mobile equipment used in the agricultural, construction, forestry, mining and military industries. The Other segment includes Construction Services and Worthington Energy Innovations.
