Worthington Industries Acquires Majority Interest in dHybrid Systems
On Monday, Worthington Industries announced that it has acquired a majority interest in dHybrid Systems, a provider of CNG fuel systems. Worthington will own 80 percent of the equity, with the founder retaining 20 percent and continuing in a leadership role. Based in Salt Lake City, Utah, dHybrid Systems operates in a recently completed 50,000 square foot facility with 28 employees. The main markets for the fuel systems are refuse and heavy duty trucks. The configurations include back of cab, top of body, side rail, combo, canopy on top of the vehicle and bus systems. “We expect the combination of dHydrid’s innovative system designs and Worthington’s commercial and manufacturing capabilities to help drive significant growth for this portion of our alternative fuel platform,” said Andrew Billman, President of Worthington Industries Pressure Cylinders. “We expect this approach to increase operational efficiencies and reduce customer lead times.” For more information, contact Cathy M. Lyttle at 614.438.3077.