Worthington Industries Announces New Cryogenic Liquid Cylinder Featuring Proprietary Design
March 17 2014 - 8:30AM
Marketwired
Worthington Industries Announces New Cryogenic Liquid Cylinder
Featuring Proprietary Design
COLUMBUS, OH--(Marketwired - Mar 17, 2014) - Worthington
Industries, Inc. (NYSE: WOR) announced today the launch of its
newly designed, DOT-approved cryogenic liquid cylinder line. The
cylinders include proprietary digital and mechanical gauges and are
available with capacities ranging from 180 - 265 L net. The
cylinders are used to store liquid nitrogen, oxygen, argon and
carbon dioxide for industrial gas markets.
Worthington designed its cryogenic liquid cylinder based on
customer insights. "Our cryogenics team spent time at industrial
gas plants and we experienced first-hand the issues with
refurbishment costs, dysfunctional fluid level gauges and overall
handling and transport," said Sean Murray, Worthington's director
of cryogenics. "We believe this product will differentiate itself
from other products on the market and offer valuable benefits to
customers."
Patents are pending on new product features designed to help
customers diagnose cylinder performance issues, reducing
unnecessary refurbishment costs. A new production area at
Worthington's Westerville, Ohio facility is dedicated to producing
the cryogenic liquid cylinders.
Features include:
- the industry's first liquid cylinder vacuum sensor that
takes the guesswork out of diagnosing vacuum quality
- proprietary gauge designed to accurately alert the
customer of liquid levels
- redesigned customer and distributor interfaces and
optional customized name plate
- center-point lift lug
- raised handling ring for easier valve access
- tamper-proof cap on the pressure builder regulator
adjustment screw
- bumper guard and mobile base
"Many cryogenic cylinders sent to refurbishment for vacuum
issues actually have been misdiagnosed and can often be repaired at
the gas plant. Our vacuum sensor will help customers better
diagnose performance issues and avoid the associated $300-$800
refurbishment cost per trip that can occur multiple times in a
cylinder's life," Murray explains. "Our proprietary level gauge
will reduce customer complaints concerning cylinders running out of
gas unexpectedly or being delivered less than full."
The cryogenic liquid cylinder line is part of Worthington
Industries' multi-year growth strategy, adding new capabilities in
alternative fuels and energy, while looking for synergies within
its existing industrial gas market.
"This new line, in addition to our LNG and cryogenic
capabilities at Worthington-Aritas, allows us to accelerate our
entry into other cryogenic cylinders and offer a unique product
portfolio to global markets," said Andy Billman, president of
Worthington Industries' Pressure Cylinders division. "I'm proud of
our team at Worthington for designing an innovative cryogenic
liquid cylinder that is based on customer desire for a smarter
product."
About Worthington Industries Worthington Industries is a leading
diversified metals manufacturing company with 2013 fiscal year
sales of $2.6 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, industrial
cryogenics tanks, 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 82 facilities in 11 countries.
Safe Harbor Statement The company wishes to take advantage of
the Safe Harbor provisions included in the Private Securities
Litigation Reform Act of 1995 ("the Act"). Statements by the
Company which are not historical information constitute "forward
looking statements" within the meaning of the Act. All
forward-looking statements are subject to risks and uncertainties
which could cause actual results to differ from those
projected. Factors that could cause actual results to differ
materially include risks described from time to time in the
Company's filings with the Securities and Exchange Commission.
CONTACTS: Cathy M. Lyttle VP, Corporate Communications and
Investor Relations Phone: (614) 438-3077 E-mail: Email Contact
Sonya L. Higginbotham Director, Corporate Communications Phone:
(614) 438-7391 E-mail: Email Contact
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