Category Archives: Worthington Industries

WORTHINGTON INDUSTRIES, INC. – History

John H McConnell founded Worthington Industries in 1952. The company expanded and added processing facilities throughout the late 1950s and 1960s.
In 1986, the company formed a joint venture with US Steel called Worthington Specialty Processing. After two years Worthington established its first international facility in Ontario, Canada.
During the 1990s, many of the company’s non-core businesses were sold. Two years later the company formed a joint venture with Armstrong World Industries called Worthington Armstrong Venture (WAVE), through which it began worldwide production of suspended ceiling systems.
The company entered metal framing market in 1996 with acquisition of Dietrich Metal Framing. A year later, Worthington Industries acquired the Gerstenslager Company, manufacturer of past model auto body panels.
In 1999, Steelpac was created to produce customized steel shipping solutions. After a year the company was listed on the New York Stock Exchange.
In 2002, the company acquired Unimast, a manufacturer of construction steel products including light gauge steel framing, plastering steel and trim accessories. Also during the same year Aegis Metal Framing, a joint venture between Dietrich Metal Framing and MiTek Industries’ Steel Framing Systems division, began its operations.
The company formed a joint venture with Viking Industries, an intermediate steel processor of hot rolled steel coils in 2003.
In August 2004, Worthington Industries sold its Decatur, cold rolling assets to Nucor Corporation. A month later, Worthington Industries acquired the propane and specialty gas cylinder assets of Western Industries.

WORTHINGTON INDUSTRIES, INC. – Key Employees

Name

Job Title

Board

Compensation

John P. McConnell

Chairman and Chief Execu­tive Officer

Executive Board

John S. Christie

President and Chief Financial Officer

Executive Board

John B. Blystone

Director

Non Executive Board

William S. Dietrich, II

Director

Non Executive Board

Michael J. Endres

Director

Non Executive Board

Mary Fackler Schiavo

Director

Non Executive Board

Peter Karmanos, Jr.

Director

Non Executive Board

John R. Kasich

Director

Non Executive Board

Carl A. Nelson

Director

Non Executive Board

Dr. Sidney A. Ribeau

Director

Non Executive Board

Virgil L. Winland

Senior Vice President, Manu­facturing

Senior Management

Jonathan B. Dove

Chief Information Officer

Senior Management

Cathy Mayne-Lyttle

Vice President, Corporate Communications

Senior Management

Harry A. Goussetis

Vice President, Human Resources

Senior Management

Dale T. Brinkman

Vice President, Administra­tion and General Counsel

Senior Management

Joe W. Harden

President, Worthington Steel Company

Senior Management

Edmund L. Ponko Jr.

President, Dietrich Industries

Senior Management

Ralph Roberts

Senior Vice President, Mar­keting

Senior Management

Business Description of WORTHINGTON INDUSTRIES, INC.

Worthington is a diversified metal processing company engaged in steel processing and manufacturing of metal products such as metal framing, pressure cylinders and automotive parts (stampings).
Worthington operates 44 manufacturing facilities worldwide and holds equity positions in nine joint ventures, which operate additional manufacturing facilities across the globe. The company processes and manufactures metal ceiling grid systems and laser welded blanks through its joint ventures.
Worthington conducts business through three business segments: processed steel products, metal framing and pressure cylinders.
The processed steel products segment operates through Worthington Steel and Gerstenslager. Both of these subsidiaries are intermediate processors of flat-rolled steel. Worthington Steel processes flat-rolled steel to match specifications of industrial customers, including automotive, appliance and machinery companies. Gerstenslager is a supplier of automotive exterior body panels to the North American automotive original equipment and past model service markets. Worthington Steel also processes steel for steel mills, large end-users, service centers and other processors.
The metal framing segment operates through, Dietrich Metal Framing. The company designs and produces metal framing components and systems and related accessories for the commercial and residential construction markets within the US. The segment’s products include steel studs and track, floor and wall system components, roof trusses and other metal framing accessories.

The pressure cylinders segment operates through Worthington Cylinders. The business unit produces a diversified line of pressure cylinders, including low-pressure liquefied petroleum gas (LPG) and refrigerant gas cylinders and high-pressure and industrial/specialty gas cylinders. The LPG cylinders are used for gas barbecue grills, recreational vehicle equipment, residential heating systems, industrial forklifts and commercial/residential cooking. Refrigerant cylinders are used to hold refrigerant gases for commercial and residential air conditioning and refrigeration systems and for automotive air conditioning systems.

High-pressure and industrial/specialty gas cylinders are used as containers for gases used in: cutting and welding metals, breathing (medical, diving and firefighting), semiconductor production and compressednatural gas systems. Worthington Cylinders also produces recovery tanks for refrigerant gases, air reservoirs for truck and trailer, original equipment manufacturers and non-refillable cylinders for helium kits.
Worthington Steelpac provides custom-designed shipping containers to move goods efficiently. It caters to automotive, lawn and garden and recreational vehicle industries.

Key Facts of WORTHINGTON INDUSTRIES, INC.

Head Office

Worthington Industries, Inc. 200 Old Wilson Bridge Road Columbus OH 43085 United States

Phone

+1 614 438 3210

Fax

+1 614 438 7948

Web Address

http://www.worthingtonindustries.com

Revenues/turnover (US$ Mn)

3078.9

Financial Year End

May

Employees

6700

SIC Codes

SIC 3316 Cold-Rolled Steel Sheet, Strip, and Bars

NAICS Codes

331221

New York Ticker

WOR

Company Overview of WORTHINGTON INDUSTRIES, INC

Worthington Industries is a steel processor and a manufacturer of metal products such as metal framing, pressure cylinders, automotive past model service stampings, and metal ceiling grid systems. The company operates in the US, Canada and Europe. It is headquartered in Columbus, Ohio, US.

The company recorded revenues of $3,078.9 million during the fiscal year ended May 2005, an increase of 29.4% over 2004. The net profit was $125.5 million during fiscal year 2005, an increase of 174.8% over 2004.