Item 8.01. Other Events.
On January 7, 2021, Worthington Industries, Inc. (the "Company") announced the
acquisition of PTEC Pressure Technology GmbH ("PTEC"), a leading independent
designer and manufacturer of valves and components for high-pressure hydrogen
and compressed natural gas storage, transport and onboard fueling systems. The
purchase price for the acquisition of PTEC, which closed on January 4, 2021, was
$10.8 million. The acquisition of PTEC adds 11 employees, as well as an
engineering and manufacturing facility located in Burscheid, Germany, to the
Company's global network. The PTEC business will be operated as part of the
Company's Pressure Cylinders segment.
Item 9.01. Financial Statements and Exhibits.
(a) through (c): Not applicable.
(d) Exhibits:
The following exhibits are included with this Current Report on Form 8K:
Exhibit No. Description
99.1 News Release issued by Worthington Industries, Inc. on January 7,
2021 ("Worthington Industries Acquires German Valve and Component
Company").
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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