Worthington Industries

Worthington Industries

Type	Public
Traded as	NYSE: WOR
Industry	Metal fabrication
Founded	1955 (Columbus, Ohio)
Founder	John H. McConnell
Headquarters	Columbus, Ohio, United States
Number of locations	81 facilities
Area served	Worldwide
Key people	John P. McConnell (Chairman & CEO) Mark A. Russell (President & COO) Andy Rose (Vice President & CFO)
Products	Steel
Revenue	US$3.38 billion (FY 2015)
Operating income	US$129.14 million (FY 2013)
Net income	US$136.44 million (FY 2013)
Total assets	US$1.951 billion (FY 2013)
Total equity	US$830.82 million (FY 2013)
Number of employees	10,500
Website	www.worthingtonindustries.com
Footnotes / references [1]

Worthington Industries is a global diversified metals manufacturing company with 2015 fiscal year sales of $3.38 billion. The Columbus, Ohio based company is a steel processor and manufacturer of pressure cylinder, such as propane, oxygen and helium tanks, hand torches, refrigerant and industrial cylinders, camping cylinders, exploration, recovery and production products for global energy markets; scuba tanks, and compressed natural gas storage cylinders; custom-engineered open and enclosed cabs and operator stations for heavy mobile equipment; framing systems for mid-rise buildings; steel pallets and racks for shipping. In addition to its three primary business units (steel processing, pressure cylinders and engineered cabs), the company’s approximately 10 joint ventures also focus on metals-related markets.^[2]

Overview

Divisions

Worthington Steel factory near Delta, Ohio

• Worthington Steel is America's largest independent processor of flat-rolled steel. The company takes steel from steel producers and processes it for customers in a variety of industries including automotive, lawn and garden, construction, hardware, office furniture, electrical control, leisure and recreation, appliance, agriculture and HVAC.^[3]

• Worthington Cylinders is a global supplier of pressure cylinders founded in 1971 with the acquisition of Lennox Industries' low pressure gas cylinder business. The company manufactures cylinders used in multiple capacities including liquefied petroleum gas cylinders used for gas grills and camping cylinders; refrigerant cylinders used for air conditioning systems; specialty high-pressure cylinders such as air or oxygen tanks used for diving, firemen breathing apparatus and hand torches for welding; compressed natural gas (CNG) storage tanks for the alternative fuels market; process equipment and storage tanks for the oil and gas industry; and consumer products like BalloonTime helium balloon kits. In 1998 Worthington acquires Jos. Heiser vorm. J. Winters Sohn Aktiengesellschaft in Kienberg/Gaming, Austria a renowned producer auf steel, light steel and composite (fibres over aluminium liner, type 3) gas cylinders.^[4][5]

• Angus-Palm is a designer and manufacturer of custom-engineered open and enclosed cabs and operator stations for a wide range of heavy mobile equipment operating in the agriculture, construction, mining, military, material handling and forestry end markets.^[2]

• Worthington Steelpac Worthington Steelpac produces customized crates, steel pallets and racks used for shipping products. Steelpac products are used for shipping in several industries and applications such as motorcycles, lawn and garden equipment and jet skis.^[6]

• Worthington Construction Group manufactures, designs and engineers the construction of light gauge steel framed residential buildings in emerging international markets.^[7]

• Worthington Energy Innovations (formerly PSI Energy Solutions) designs and implements energy efficiency projects that help manufacturers and businesses reduce energy costs and GHG emissions.^[8]

Joint ventures

• ArtiFlex Manufacturing is a joint venture with Worthington’s automotive stamping company (formerly Gerstenslager) and International Tooling Solutions that offers integrated solutions for engineering, tooling, stamping and assembly.
• ClarkDietrich Building Systems, a joint venture between ClarkWestern and Dietrich Metal Framing, manufactures light-gauge metal framing and finishing products, systems and services for commercial and residential construction.
• Samuel Steel Pickling Company is a joint venture between Samuel, Son & Co., Limited and Worthington Steel with two pickling operations that have a combined capacity to pickle 750,000 tons of steel per year.
• Serviacero Worthington, a Worthington Industries-Serviacero Planos joint venture, operates three steel service centers in Mexico, providing services such as slitting, pickling, multi-blanking and cutting-to-length to customers in a variety of industries including automotive, appliance, electronics and heavy equipment.
• Spartan Steel Coating is a joint venture with Severstal North America. Located in Monroe, Michigan, Spartan is capable of producing 600,000 tons annually of light gauge hot-dipped galvanized steel, primarily for value-added automotive applications.
• TWB Company in Monroe, Mich., Prattville, Alabama and Ramos Arizpe, Hermosillo and Puebla, Mexico, is a joint venture with ThyssenKrupp that produces laser welded blanks for the automotive industry.
• Worthington Armstrong Venture (WAVE), a joint venture of Worthington and Armstrong World Industries produces suspended metal ceiling grids.
• Worthington Modern Steel Framing System Co. is a joint venture with Hubei Modern Urban Construction & Development Group Co., Ltd. of China that manufactures light gauge steel framing products and designs, engineers and supplies light gauge steel-framed mid-rise residential buildings in the Central Chinese provinces of Hubei, Hunan, Henan, Jiangxi and Anhui.
• Worthington Nitin Cylinders is a 60% Worthington-owned joint venture with Nitin Cylinders Limited. Located in Visakhapatnam, India, the company manufactures high pressure, seamless steel cylinders for compressed natural gas (CNG) storage in motor vehicles.
• Worthington Specialty Processing (WSP), a partnership with U.S. Steel, toll processes more than 750,000 tons of wide sheet steel annually for the auto industry.
• Worthington-Arıtaş Basınçlı Kaplar San. AŞ is a joint venture with Europe's leading LNG and cryogenic technology company based in Istanbul, Turkey.^[9]

Awards and achievements

Worthington Industries has been recognized four times by Fortune magazine as one of the "100 Best Companies to Work for in America". In 2006, the "100 Best Fortune" article on Worthington Industries stated, "The steel processor's culture is based on trust and great benefits. Factory workers get a piece of the monthly profit sharing, which augments monthly salaries 40% to 100%. Join the wellness program, and your health premiums are covered."^[10] Fortune also named Worthington one of the "Most Admired Companies in the Metals Industry".^[11] Worthington Industries has been on Money magazine's list of "30 Best Performing Stocks of the Past 30 Years",^[12] and Forbes magazine has recognized Worthington Industries as one of "America's Best Big Companies".^[13]

Worthington Industries has also developed into a recruiting magnet company, having successfully recruited top-of-their-class recruits from the last three graduating classes of the highest-ranked accounting program in the nation.^[14][15]

Worthington Industries was recognized as a "Partner-level" supplier for 2013 in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company's highest supplier rating.^[16]

References

External links

• Worthington Industries web site