) has launched its newly designed cryogenic liquid cylinders.
Approved by The U.S. Department of Transportation (DOT), these
cylinders are used to store liquid nitrogen, oxygen, argon and
carbon dioxide for industrial gas markets.
The new cryogenic liquid cylinder line is available with
capacities ranging from 180-265 liters net and includes
proprietary digital and mechanical gauges. Worthington has
designed these cylinders based on customer insights factoring in
issues with refurbishment costs, dysfunctional fluid level gauges
and overall handling and transport experienced at industrial gas
Key features of the cylinder line include the industry's first
liquid cylinder vacuum sensor, proprietary gauge geared to
accurately alert the customer of liquid levels, redesigned
customer and distributor interfaces and optional customized name
plate and raised handling ring for easier valve access.
Worthington noted that patents are pending on new product
features to help customers diagnose cylinder performance issues,
thereby cutting unnecessary refurbishment costs. Several
cryogenic cylinders have been misdiagnosed and are sent to
refurbishment for vacuum issues. These cylinders can often be
repaired at the gas plant.
Worthington's vacuum sensor has been designed to help
customers better diagnose performance issues and avoid the
related $300-$800 refurbishment cost per trip that can occur
several times in a cylinder's life. A new production area at the
company's Westerville, OH, facility has been dedicated to make
the cryogenic liquid cylinders.
The cryogenic liquid cylinder line represents a part of
Worthington's multi-year growth strategy. These cylinders add new
capabilities in alternative fuels and energy while providing
opportunities for synergies within existing industrial gas
market. The company expects that this product will differentiate
itself from currently available options on the market.
The launch of the new cylinder line comes after Worthington's
recent purchase of a 75% stake in Turkey-based leading liquefied
natural gas (LNG) company ARITAS. The acquisition provided
Worthington significant opportunity to expand its LNG and
cryogenics businesses globally. The added LNG and cryogenic
capabilities through the acquisition coupled with the new
cylinder line is expected to enable the company to offer a unique
product range to global markets.
Worthington is a Zacks Rank #2 (Buy) stock.
Other metal processors with a favorable Zacks Rank include
Norsk Hydro ASA
), all sporting a Zacks Rank #2 (Buy).
NORSK HYDRO ADR (NHYDY): Get Free Report
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TIMKEN CO (TKR): Free Stock Analysis Report
WORTHINGTON IND (WOR): Free Stock Analysis
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