Worthington Industries has recently announced the acquisition of PTEC Pressure Technology, a leading independent designer and manufacturer of valves and components for high-pressure hydrogen and compressed natural gas (CNG) storage, transport and onboard fueling systems, based in Germany.
Worthington Industries, on the other hand, serves the sustainable mobility markets with gas-storage, transport and onboard fueling systems for cars, buses, trucks and more, relying on the lightest composite and steel low- and high-pressure cylinders available.
Why Worthington purchased PTEC
Worthington is the largest designer and manufacturer of pressure vessels in Europe with over 1,600 employees working at facilities in Austria, Poland and Portugal. With the lightest composite and steel low- and high-pressure cylinders available, Worthington Europe designs and makes solutions for alternative fuels, industrial gases, and technical gases.
«Our purchase of PTEC adds to our investments in the growing sustainable mobility markets and expands our systems capabilities to provide more comprehensive solutions to our customers», said Timo Snoeren, General Manager Industrial Gases Europe. «Bringing PTEC’s innovative products and proven track record with vehicle manufacturers into the Worthington family of products will streamline the supply chain and further fuel innovations for the hydrogen and CNG economy».
More comprehensive systems for alternative fuels management
Worthington is adding products that are adjacent to its core pressure cylinders business, providing more comprehensive systems for the storage, transport and use of alternative fuels like hydrogen and CNG. The company’s strategy is to be a leading solutions provider in the rapidly growing hydrogen economy, particularly in Europe where strict, mandated emissions reductions are accelerating growth.