Welcome to our dedicated page for Worthington news (Ticker: WOR), a resource for investors and traders seeking the latest updates and insights on Worthington stock.
Worthington Enterprises (WOR) delivers innovative metal processing solutions and sustainable energy systems across global markets. This news hub provides investors and industry professionals with direct access to official announcements, strategic developments, and financial updates from the diversified manufacturer.
Track the company’s progress in building products, consumer solutions, and clean energy technologies through curated press releases. Our repository includes verified updates on earnings reports, facility expansions, product launches, and partnership agreements – all essential for understanding WOR’s market position.
Discover how the company’s advancements in composite cylinder manufacturing and architectural metal systems impact key industries. Content is organized chronologically for efficient research, with clear sourcing for regulatory compliance. Bookmark this page for real-time insights into operational milestones and corporate strategy.
Worthington Enterprises (NYSE: WOR) will host its quarterly earnings call on June 26, 2024, at 8:30 a.m. ET to discuss fiscal fourth-quarter results. These results will be released after the market closes on June 25. Investors can register for the live audio webcast via the company's investor relations website. A replay will be accessible approximately two hours post-call and will remain available for one year.
Worthington Enterprises (NYSE: WOR) has completed its acquisition of Hexagon Ragasco, a global leader in lightweight LPG composite cylinders. The move aims to strengthen Worthington's position in the global propane market. According to CEO Andy Rose, the acquisition aligns with the company's goals of promoting clean energy, particularly in developing countries. Worthington, formerly known as Worthington Industries, has a long history of shareholder value and dividend payments since 1968. The acquisition was finalized on the company's Founder’s Day, honoring the legacy of founder John H. McConnell.
Hexagon Composites announces the sale of Hexagon Ragasco to Worthington Enterprises and the acquisition of a 49% stake in Worthington's Sustainable Energy Solutions (SES) business segment. The sale of Hexagon Ragasco, valued at NOK 1,050 million, may adjust based on 2024 performance, ranging from a decrease of NOK 50 million to an increase of NOK 100 million. Hexagon Ragasco, a leader in LPG composite cylinders, will now be part of Worthington Enterprises. Concurrently, Hexagon acquires a 49% stake in SES for USD 20 million. SES is a major supplier of high-pressure cylinders and systems, reporting EUR 127 million in revenue and EUR 2.9 million in adjusted EBITDA in 2023. Hexagon sees these transactions as part of a strategic focus on high-pressure, clean energy solutions.
Worthington Enterprises (NYSE: WOR) announced two strategic agreements with Hexagon Composites ASA (OSE: HEX.OL). Worthington will acquire Hexagon Ragasco, a leader in lightweight LPG composite cylinders, for $98 million, expanding its footprint in the clean energy sector. Hexagon Ragasco reported 2023 sales of $64 million and an EBITDA of $12.7 million. The acquisition will integrate into Worthington's Building Products segment, enhancing its global cylinder manufacturing operations.
Additionally, Worthington has sold 49% of its Sustainability Energy Solutions (SES) segment to Hexagon for $10 million, forming a joint venture to focus on hydrogen and compressed natural gas storage and transport. This venture aligns with Worthington's growth strategy and aims to leverage the global clean energy transition. The joint venture is based in Europe with over 500 employees.
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