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.”