Worthington Enterprises Completes Acquisition of Hexagon Ragasco

Worthington Enterprises, a designer and manufacturer of market-leading brands that enable people to live safer, healthier and more expressive lives, announced the closing of its planned acquisition of Hexagon Ragasco. The business is a global leader in lightweight, customizable LPG composite cylinders used for leisure, household and industrial applications. 

Andy Rose, president and CEO, Worthington Enterprises, said, “We are excited to welcome the Hexagon Ragasco employees into Worthington Enterprises. We believe Hexagon Ragasco complements our existing cylinder business and accelerates our position in the global propane market. Their composite cylinders are advancing the use of clean fuels as part of the global energy transition especially in developing countries with limited infrastructure.”  

Worthington Enterprises, which is the former Worthington Industries, was founded by John H. McConnell 69 years ago today. Throughout the last seven decades, the Company has maintained its first corporate goal of earning money for shareholders and increasing the value of their investment. Worthington Enterprises has issued a dividend to shareholders every quarter since the Company went public in 1968. 

“It is fitting that we completed this acquisition on Worthington’s Founder’s Day,” Rose commented. “John H. McConnell’s legacy lives on in our daily operations in many ways but none more visible than the Philosophy he wrote that guides the business. Treating people as they would like to be treated continues as our Golden Rule in our interactions with employees, customers, suppliers and our local communities. Our Philosophy will lead the way as we integrate Hexagon Ragasco into our Company.” 

About Worthington Enterprises

Worthington Enterprises (NYSE: WOR) is a designer and manufacturer of market-leading brands that help enable people to live safer, healthier and more expressive lives. The Company operates with three business segments: Building Products, Consumer Products and Sustainable Energy Solutions. Worthington’s emphasis on innovation and transformation extends to building products including water systems, heating and cooling solutions, architectural and acoustical grid ceilings and metal framing and accessories, and consumer products in tools, outdoor living and celebrations categories sold under brand names Balloon Time®, Bernzomatic®, Coleman®, Garden-Weasel®, General®, HALO™, Hawkeye™, Level5 Tools®, Mag Torch®, Pactool International® and Well-X-Trol®. The Company serves the growing global hydrogen ecosystem through on-board fueling systems and gas containment solutions. Headquartered in Columbus, Ohio, Worthington Enterprises employs approximately 5,000 people throughout North America and Europe. Founded in 1955 as Worthington Industries, Worthington Enterprises follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Worthington Enterprises achieves this outcome by empowering its employees to innovate, thrive and grow with leading brands in attractive markets that improve everyday life. The Company engages deeply with local communities where it has operations through volunteer efforts and The Worthington Companies Foundation, participates actively in workforce development programs and reports annually on its corporate citizenship and sustainability efforts. For more information, visit worthingtonenterprises.com.

Contact:

Sonya L. Higginbotham – SVP, Chief of Corporate Affairs, Communications and Sustainability – sonya.higginbotham@wthg.com – (614) 438-7391

Source: Worthington Enterprises, Inc.