Worthington Industries has acquired PTEC Pressure Technology, an independent designer and manufacturer of valves and components for high-pressure hydrogen and CNG storage, transport and onboard fuelling systems.
Announcing the acquisition today (7th Jan), Worthington said it is adding products that are adjacent to its core pressure cylinders business, providing more comprehensive systems for the storage, transport and use of alternative fuels such as hydrogen.
The company’s strategy is to be a leading solutions provider in the rapidly growing hydrogen economy, particularly in Europe where strict, mandated emissions reductions are accelerating growth.
“Our purchase of PTEC adds to our investments in the growing sustainable mobility markets and expands our systems capabilities to provide more comprehensive solutions to our customers,” said Eric Smolenski, President of Worthington Industries Pressure Cylinders.
“Bringing PTEC’s innovative products and proven track record with vehicle manufacturers into the Worthington family of products will streamline the supply chain and further fuel innovations for the hydrogen and CNG economy.”
The purchase of PTEC adds 11 employees and an engineering and manufacturing facility located in Burscheid, Germany, to Worthington’s global network.