f.l.t.r.: Claudia Schmidt, Elke Sagmeister
CHSH Cerha Hempel Spiegelfeld Hlawati advised Worthington Cylinders GmbH, part of the American Worthington Industries group, on the sale of all of its shares in Worthington Cylinders a.s. in Hustopece, Czech Republic, to the Frauenthal group.
Worthington Industries, which is listed on the New York Stock Exchange, is a diversified American metal manufacturing group which has its headquarters in Columbus, Ohio. In the 2012 financial year, the group generated sales of approximately USD 2.5 billion. The group is one of the largest companies in North America in the steel processing sector and is a leading manufacturer of pressure cylinders, employing more than 10,000 people across 82 sites in 11 countries.
The Czech subsidiary Worthington Cylinders a.s. in Hustopece is one of the leading manufacturers of cylinders used in braking systems for motor vehicles and supplies renowned truck manufacturers. Worthington Cylinders a.s. employs approximately 200 people.
Signing and closing for the complex cross-border transaction took place on 31 October 2012. Worthington Industries was advised by Albert Birkner (Head of the M&A Practice Group at CHSH), Claudia Schmidt and Elke Sagmeister.