WOR - Luxfer buys Structural Composites Industries business of Worthington for $20M in cash

Luxfer Holdings (LXFR) has acquired the Structural Composites Industries business of Worthington Industries (WOR) for $20M in cash.The acquisition broadens Luxfer's product portfolio in alternative fuels and aerospace.Also, Luxfer expects significant cost synergies and provides growth capacity for CNG and Hydrogen.Luxfer expects the acquisition to be accretive to Adjusted EPS in 2022; dilutive in 2021.“The Luxfer Gas Cylinders brand and product offering is synonymous with quality, reliability and innovation, and the acquisition of SCI will further strengthen our reputation,” stated Andy Butcher, President of Luxfer Gas Cylinders.Press Release

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Luxfer buys Structural Composites Industries business of Worthington for $20M in cash