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Worthington of the US acquires Polish LPG tank maker Stako


2011-10-03



Worthington Industries, a New-York listed diversified metal processing group, on 30 September announced that it has acquired Stako, a leading Polish manufacturer of liquefied propane gas (LPG) auto tanks, based in Slupsk (Pomorskie voivodship). The value of the transaction was not disclosed.

John McConnell, Chairman and CEO of Worthington Industries, said the acquisition would "expand the US company’s alternative fuels product offering and give it the broadest offering of alternative fuel tanks for the automotive OEM and aftermarkets".

Stako’s specialty are toroidal and cylindrical LPG tanks for passenger cars and commercial and delivery vehicles. It also makes compress natural gas (CNG) composite and steel tanks for the automotive, medicine, aeronautics and other sectors. At present the Polish firm employs 470 employees. Its sales revenues during the preceding 12 months amounted to approximately $25m (€18.7m).

Worthington has two main business segments: steel processing and pressure cylinders. It claims to be the global leader in manufactured pressure cylinders. Based in Columbus, Ohio, it operates 74 facilities in 12 countries and employs 8,500 people.



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