SOURCE: Worthington Industries, Inc.

Worthington Industries, Inc.

April 14, 2014 16:30 ET

Worthington Names Vice President of Mergers & Acquisitions

COLUMBUS, OH--(Marketwired - Apr 14, 2014) - Worthington Industries, Inc. (NYSE: WOR) today announced that Joe Hayek has joined the Company as vice president of mergers & acquisitions (M&A) and corporate development, a newly created position focused on identifying and acquiring new businesses.

"Joe brings a great deal of experience to this new role; he will be an excellent addition to our management team," said Worthington Industries CFO Andy Rose. "He will provide focused leadership, accelerating our efforts to identify new, high value-added manufacturing businesses as we seek to raise our margins, diversify end-markets and accelerate growth."

Hayek spent 10 years as an investment banker at Wells Fargo Securities and Raymond James providing M&A advice and capital raising services to mid-market companies in the U.S. He completed roughly 75 transactions over 10 years and was responsible for all aspects of deal sourcing, execution and documentation. Beginning in 2008, he was executive vice president for PCM Inc., an IT solutions provider, where he was responsible for developing and executing their M&A strategy. In 2012, he was named president of SARCOM, PCM's largest division.

Worthington Industries is a leading diversified metals manufacturing company with 2013 fiscal year sales of $2.6 billion. The Columbus, Ohio based company is North America's premier value-added steel processor and a leader in manufactured metal products, such as propane, oxygen, refrigerant and industrial cylinders, hand torches, camping cylinders, scuba tanks, compressed natural gas storage cylinders, helium balloon kits and exploration, recovery and production tanks for global energy markets; custom-engineered open and enclosed cabs and operator stations for heavy mobile equipment; laser welded blanks; steel pallets and racks; and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings, current and past model automotive service stampings and light gauge steel framing for commercial and residential construction. Worthington employs approximately 10,000 people and operates 81 facilities in 10 countries.

Founded in 1955, the Company operates under a long-standing corporate philosophy rooted in the golden rule. Earning money for its shareholders is the first corporate goal. This philosophy serves as an unwavering commitment to the customer, supplier, and shareholder, and it serves as the Company's foundation for one of the strongest employee-employer partnerships in American industry.

Safe Harbor Statement

The company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 ("the Act"). Statements by the Company which are not historical information constitute "forward looking statements" within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks described from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • CONTACTS:
    Cathy M. Lyttle
    VP, Corporate Communications and Investor Relations
    Phone: (614) 438-3077
    E-mail: Email Contact

    Sonya L. Higginbotham
    Director, Corporate Communications
    Phone: (614) 438-7391
    E-mail: Email Contact