Worthington Industries: Gains after buying hand tools maker General

Worthington Industries

01/02/2021 15:24

** Steel processor and metal products maker's shares  WOR.N 
rise as much as 4.7% to $54.79; stock snaps losses after five
straight sessions and on track for biggest one-day gain in
nearly a month
    ** WOR says it bought hand tools maker General Tools and
Instruments Company LLC for about $115 million to expand its 
consumer products portfolio  urn:newsml:reuters.com:*:nGNX4sYlgk
    ** General Tools owns brands including General,
Garden-Weasel, Pactool International and Hawkeye, and generated
sales of $68.2 mln in 2020 and adjusted EBITDA of $15.2 mln
    ** YTD, WOR's stock had gained about 4%

 (Reporting by Ankit Ajmera in Bengaluru)
 ((Ankit.Ajmera@thomsonreuters.com))