ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

Worthington Acquires Oil & Gas Equipment Maker Serving Eagle Ford Shale Play

Print | 
Email |  Comment   Share  

Worthington Industries
200 Old Wilson Bridge Rd.
Columbus, OH, 43085
USA



Press release date: August 1, 2014

COLUMBUS, OH – Worthington Industries, Inc. (NYSE: WOR) today announced that it has acquired the business of Midstream Equipment Fabrication, LLC (MEF). MEF manufactures patented horizontal heated and high pressure separators used to separate oilfield fluids and gas for customers drilling in the Eagle Ford Shale and is well-situated to serve customers in the Permian Basin. The purchase price was $40 million.

“With the addition of MEF, we are now positioned to serve all of the major shale plays in the U.S.,” said Andrew Billman, president of the Worthington Industries pressure cylinders business. “Their separation technology is proven to be more cost effective for customers and produces a higher purity crude. We anticipate utilizing this technology to enhance our offerings in other shale plays where we operate.”

MEF is located in Skiatook, Okla. and employs 55 people. The patented separators yield greater throughput, requiring less equipment on each well pad, and produce higher purity crude over traditional oilfield separators. MEF began production in April 2012. The company is Worthington’s fourth acquisition in the upstream oil and gas equipment market. Worthington operations now supply customers in every major shale region, including Bakken, Eagle Ford, Permian, Marcellus, Utica, Mid-Continent, DJ and Uinta. The addition of the Oklahoma facility will complement Worthington’s existing operations in Ohio, Kansas and North Dakota that manufacture steel and fiberglass storage tanks, oil and gas separation equipment and related wellhead controls and equipment.

About Worthington Industries
Worthington Industries is a leading diversified metals manufacturing company with 2014 fiscal year sales of $3.1 billion. The Columbus, Ohio based company is North America’s premier value-added steel processor and a leader in manufactured metal products, such as propane, oxygen, refrigerant and industrial cylinders, hand torches, camping cylinders, scuba tanks, compressed natural gas storage cylinders, helium balloon kits and exploration, recovery and production tanks for global energy markets; custom-engineered open and enclosed cabs and operator stations for heavy mobile equipment; laser welded blanks; steel pallets and racks; and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings, current and past model automotive service stampings and light gauge steel framing for commercial and residential construction. Worthington employs approximately 10,000 people and operates 81 facilities in 10 countries.

Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



| Featured Manufacturing Jobs
 Other News from this company:
Worthington Steelpac Expands Line of Steel Shipping and Storage Products Centered Around Steel Pallets
Dietrich's UltraSTEEL® Framing Receives Key Code Endorsements
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address