Irwin Sells BernzOmatic to Worthington Industries
Worthington adds brand to its Pressure Cylinders division.
Worthington Industries, Inc. (NYSE:WOR) announced today that its Pressure Cylinders segment has purchased the BernzOmatic business from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid.
BernzOmatic is a manufacturer and global marketer of hand-held torches, solder, accessories and related products, sold in retail and professional plumbing/ HVAC wholesale channels with strong brand recognition. The acquisition of BernzOmatic assets, increases Worthington’s product mix, adds new products, such as solder and accessories and provides an entrée into the plumbing wholesale channel, currently sold under the Lenox brand, as well as international markets. The acquisition also directly supports Worthington Cylinders’ established hand-held torch cylinder business. BernzOmatic operates two manufacturing facilities, in Medina, N.Y. and Winston-Salem, N.C., and had revenues of approximately $100 million in the 2010 calendar year.
“This acquisition accelerates our growth in the hand torch business with an established retail brand and gives us access to additional international distribution channels,” said Worthington Industries Chairman and CEO John McConnell.
“We can now offer customers the benefit and opportunity to purchase Worthington’s hand torch cylinder and the BernzOmatic hand torch and accessories from the same manufacturer,” said Harry Goussetis, president of Worthington Cylinders. “In addition to its strong brand, BernzOmatic has a history of product innovation. We anticipate enhancing that legacy with our manufacturing capabilities and expertise to grow existing and new product categories.”
Worthington Industries is a leading diversified metals manufacturing company with 2011 fiscal year sales of approximately $2.4 billion. The Columbus, Ohio based company is North America’s premier value-added steel processor; a leader in manufactured pressure cylinders, such as propane, oxygen and helium tanks, hand-held torches, refrigerant and industrial tanks, camping cylinders, compressed natural gas storage cylinders and scuba tanks; framing systems and stairs for mid-rise buildings; steel pallets and racks; and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings, laser welded blanks; light gauge steel framing for commercial and residential construction; and current and past model automotive service stampings. Worthington, including its joint ventures employs approximately 8,000 people and operates 74 facilities in 11 countries.
For more information, visit www.worthingtonindustries.com or www.irwin.com.
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