Worthington Industries, Inc. is expanding its cylinder product line with the acquisition of Structural Composites Industries, LLC (SCI).
The purchase falls under the Worthington Cylinders business segment and is further proof of the company’s desire to grow its portfolio beyond its core markets.
SCI is a leading manufacturer of DOT-approved lightweight, aluminium-lined, composite wrapped high pressure cylinders used in commercial, military, marine and aerospace applications.
Product lines include cylinders for alternative fuel vehicles using natural gas or hydrogen, self-contained breathing apparatus (SCBA), aviation oxygen and escape slides, military applications, home oxygen therapy, and advanced & cryogenic structures.
“With this acquisition we continue to execute on our strategy to grow the pressure cylinder business, with a focus on broadening the portfolio beyond its original, core markets,” said Worthington Industries Chairman and CEO, John P. McConnell.
Just as enthusiastic about the new market opportunities ahead is Worthington Cylinders President Harry Goussetis. He said, “SCI’s expertise in manufacturing composite cylinders and their strong management team are the perfect complement to our existing steel and aluminum product lines.”
“This business is our entry into weight critical applications and it will expand our opportunities in the faster growing alternative fuels and SCBA sectors.”
SCI is located in Pomona, California and has approximately 150 employees. Revenues were approximately $36m in the calendar year 2008.