Worthington Cylinders Acquires BernzOmatic

Worthington Industries, Inc. WOR announced today that its Pressure Cylinders segment has purchased the BernzOmatic business from Irwin Industrial Tool Company, a subsidiary of Newell Rubbermaid. The transaction was financed with the Company's revolving credit facility and is expected to be immediately accretive. 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 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.