Worthington Industries

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Worthington Industries, Inc. is a global diversified metals manufacturing company based in Columbus, Ohio. It is a steel processor and manufacturer of pressure vessels, such as propane, oxygen and helium tanks, hand torches, refrigerant and industrial cylinders, camping cylinders, exploration, recovery and production products for global energy markets; water system tanks for storage, treatment, heating, expansion and flow control, and compressed natural gas storage cylinders. The company also manufactures framing systems for mid-rise buildings and steel pallets and racks for shipping. It is the largest independent processor of flat-rolled steel in the United States. The company takes steel from steel producers and processes it for customers in industries including automotive, lawn and garden, construction, hardware, office furniture, electrical control, leisure and recreation, appliance, agriculture and HVAC.Founded in 1971, the pressure vessels business includes the manufacture of cylinders such as liquefied petroleum gas cylinders used for gas grills and camping cylinders; refrigerant cylinders used for air conditioning systems; water system tanks for storage, treatment, heating, expansion and flow control; high-pressure cylinders for industrial gases, air or oxygen tanks used for diving; self-contained breathing apparatus for firemen; hand torches; compressed natural gas (CNG) storage tanks for the alternative fuels market; process equipment and storage tanks for the petroleum industry; liquid nitrogen containers for the life sciences, health care and animal husbandry markets; and consumer products such as Balloon Time helium gas balloon kits. Cylinders and tanks are made from welded or seamless steel, from aluminium or from fibre composite materials. The company is ranked 677th on the Fortune 500.Worthington Industries is the only manufacturer of disposable 1lb propane cylinders in North America. The 16.1 oz. cylinders are sold under a variety of brand names including Worthington, Bernzomatic, and Coleman.

Worthington Industries has been a target of short sellers for a while. The current short interest of 2.63% is roughly at the average of the last 12 months (1.72%).