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News Breaks
August 1, 2014
11:01 EDTWORWorthington acquires business of Midstream Equipment Fabrication for $40M
Worthington Industries announced that it has acquired the business of Midstream Equipment Fabrication. MEF manufactures patented horizontal heated and high pressure separators used to separate oilfield fluids and gas for customers drilling in the Eagle Ford Shale and is well-situated to serve customers in the Permian Basin. The purchase price was $40M.
News For WOR From The Last 14 Days
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March 25, 2015
17:10 EDTWORWorthington reports Q3 EPS (39c), may not compare to consensus 39c
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15:34 EDTWORNotable companies reporting after market close
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March 24, 2015
16:09 EDTWORWorthington announces closure of Engineered Cabs location
Worthington Industries announced that it will close its Florence, S.C. Engineered Cabs facility effective September 2015, impacting approximately 310 employees. It also announced a workforce reduction at its Oil and Gas Equipment locations in Garden City, Kan., Skiatook, Okla., and Bremen and Wooster, Ohio, impacting approximately 245 employees. The company will record a non-cash charge of approximately $81.6M for restructuring and the impairment of the goodwill, intangible and certain fixed assets of the Engineered Cabs business, and a $2.3M restructuring charge for severance benefits related to the workforce reductions at the Oil & Gas Equipment locations. Worthington Industries will be releasing third quarter results on Wednesday, March 25 after the market closes, followed by an analyst conference call at 10:30 a.m. ET on Thursday, March 26.

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