SOURCE: Industrial Info Resources

December 23, 2008 06:00 ET

Worthington Industries Posts $160 Million 2Q09 Loss on Softening Demand and Price of Steel, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - December 23, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Worthington Industries Incorporated (NYSE:WOR) (Columbus, Ohio) has posted a second-quarter 2009 loss of about $160 million as a result of the economic downturn and a major drop in steel prices. As part of cost-cutting efforts, the company plans to permanently close its Louisville Cold-Rolled Steel Plant in Kentucky by the end of 2009. Industrial Info has been tracking the plant closure, which is expected to cost about $1.5 million, since November.

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