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Profile: Worthington Industries Inc (WOR)

WOR on New York Consolidated

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17 Dec 2018
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Worthington Industries, Inc., incorporated on August 24, 1998, is a metals manufacturing company, focused on value-added steel processing and manufactured metal products. The Company's segments include Steel Processing, Pressure Cylinders, Engineered Cabs and Other. The Company's manufactured metal products include pressure cylinders for liquefied petroleum gas (LPG), compressed natural gas (CNG), oxygen, refrigerant and other industrial gas storage; hand torches and filled hand torch cylinders; propane-filled camping cylinders; helium-filled balloon kits; steel and fiberglass tanks and processing equipment primarily for the oil and gas industry; cryogenic pressure vessels for liquefied natural gas (LNG) and other gas storage applications; engineered cabs and operator stations and cab components, and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings; laser welded blanks; light gauge steel framing for commercial and residential construction, and automotive service stampings.

Steel Processing

The Steel Processing segment consists of the Worthington Steel business unit (Worthington Steel), which operated 23 manufacturing facilities, as of May 31, 2016; Worthington Steelpac Systems, LLC (SteelPac), which designs and manufactures recyclable steel packaging solutions for the movement of products, and three consolidated joint ventures: Spartan Steel Coating, LLC (Spartan), which operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan; TWB Company, L.L.C. (TWB), which operates a laser welded blank business, and Worthington Specialty Processing (WSP), which processes wide-sheet steel for the auto industry and operated three facilities in Michigan, as of May 31, 2016. Its manufacturing facilities are located in Ohio, Michigan, Mexico, Alabama, Indiana, Tennessee, Kentucky, New York and Canada.

The Steel Processing segment buys coils of steel from integrated steel mills and mini-mills, and also toll processes steel for steel mills, end users, service centers and other processors. As of May 31, 2016, the Steel Processing segment served approximately 1,000 customers in the automotive, aerospace, agricultural, appliance, construction, container, hardware, heating, ventilating and air conditioning (HVAC), lawn and garden, leisure and recreation, office furniture and office equipment markets.

Pressure Cylinders

The Pressure Cylinders segment consists of the Worthington Cylinders business unit (Worthington Cylinders), which operated 21 manufacturing facilities, as of May 31, 2016, and two consolidated joint ventures: Turkey-based Worthington Aritas Basincli Kaplar Sanayi (Worthington Aritas), a manufacturer of cryogenic pressure vessels for LNG and other gas storage applications, and Utah-based dHybrid Systems, LLC (dHybrid), a manufacturer of CNG fuel systems primarily for heavy duty, refuse and other trucks. The Pressure Cylinders segment manufactures and sells filled and unfilled pressure cylinders, tanks, hand torches, and oil and gas equipment along with various accessories and related products for end use market applications, such as industrial products, consumer products, alternative fuels, oil and gas equipment, and cryogenics. Its manufacturing facilities are located in Alabama, California, Kansas, Massachusetts, North Carolina, North Dakota, Ohio, Oklahoma, Utah, Wisconsin, Austria, Poland, Portugal and Turkey.

Engineered Cabs

The Engineered Cabs segment consists of the Worthington Industries Engineered Cabs business unit (Engineered Cabs), which operated two manufacturing facilities, one in each of South Dakota and Tennessee, as of May 31, 2016. The Engineered Cabs is a non-captive designer and manufacturer of custom-engineered open and enclosed cabs and operator stations and custom fabrications for heavy mobile equipment used in the agricultural, construction, forestry, mining and military industries. The Engineered Cabs' product design, engineering support and manufacturing solutions enable it to produce cabs and structures used in products ranging from small utility equipment to the large earthmovers. In addition to its engineered cab products, the Engineered Cabs segment provides a suite of complementary products, such as machined structural components, complex and painted weldments, engine doors, boom components and complete frames.

Engineered Cabs has the manufacturing solution for steel laser cutting, steel bending and forming, roll-form tube curving and bending, machining, welding-robotic and manual, automated steel product cleaning and E-coating, top coat painting and assembly. As of May 31, 2016, the Engineered Cabs produced products for over 150 different equipment platforms for approximately 75 customers.

Other

The Other segment includes Construction Services and Worthington Energy Innovations (WEI). The Company's Construction Services segment consists of the Military Construction business unit, which is engaged in the supply and construction of single family housing, with a focus on military housing. Its WEI is an energy services company that develops energy solutions for entities in North America and Asia.

Company Address

Worthington Industries Inc

200 W Old Wilson Bridge Rd
WORTHINGTON   OH   43085-2247
P: +1614.4383210
F: +1614.4383136

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