Worthington Industries will purchase the assets related to the business of Piper Metal Forming Corp., U.S. Respiratory Inc. and Pacific Cylinders Inc. Piper – with one manufacturing location in New Albany, Miss. – manufactures aluminum high-pressure cylinders as well as impact-extruded steel and aluminum parts for the medical, automotive, defense and oil industries. U.S. Respiratory provides value-added assembly and distribution of Piper’s medical-cylinder products, and Pacific Cylinders provides West Coast distribution from Diamond Springs, Calif. The group’s revenues were approximately $30 million for the last calendar year.
The new assets will be included in Worthington’s Pressure Cylinders business segment. The transaction is expected to close within 30 days subject to normal closing conditions. Columbus, Ohio-based Worthington Industries is a value-added steel processor and manufactures metal products such as metal framing, pressure cylinders, automotive past-model service stampings, metal ceiling-grid systems and laser-welded blanks.
Worthington to Acquire Piper Metal Forming
June 2, 2009