Worthington Industries expands its reach in the Bakken, purchasing the tank storage manufacturing division of Steffes Corporation for an undisclosed amount in late March 2014. Steffes Corporation manufactures oilfield and salt water storage tanks for clients in the Bakken Shale and Williston Basin, and generated $25-million in revenue in 2013. Worthington will acquire Steffes Corporation's Dickinson, N.D. plant in the deal, which currently employs 35 people.
The acquisition of the tank division of Steffes Corporation adds to Worthington’s existing facilities in Ohio that manufacture gas separators, gas production units and related wellhead equipment for oil and gas exploration customers in the Marcellus, Utica, Bakken and Mid-Continent regions. In April 2013, Worthington also acquired Kansas-based Palmer Manufacturing and Tank Inc., a manufacturer of both steel and fiberglass tanks for the Bakken area.