SOURCE: Worthington Industries, Inc.

Worthington Industries, Inc.

November 12, 2015 09:25 ET

Worthington's Tailor Welded Blanking Joint Venture Announces New Kentucky Facility

COLUMBUS, OH--(Marketwired - Nov 12, 2015) -  Worthington Industries (NYSE: WOR) today announced that its tailor welded blanking joint venture, TWB Company, LLC, is opening a new facility in Glasgow, Ky. The company plans to sublease 12,000-square-feet of space from Fortis Manufacturing. The facility is expected to begin production by the end of the first quarter of 2016.

"This expansion is evidence of the strength of the relationships we have with our customers, as well as the increased demand for our tailor welded products," said Geoff Gilmore, president of Worthington Industries' Steel Processing business. "This location will increase efficiencies in the supply chain and will help put stronger, lighter trucks on the road."

The Kentucky TWB facility will laser weld different types of high strength grade steel to create material used for heavy duty truck rail assemblies that is stronger and lighter with improved crash performance. The material will be stamped and assembled at a Tier 1 supplier before being used in Ford F-250 and F-350 pickup trucks. 

"Our innovative laser welded blank offering continues to expand into new vehicle parts like these heavy gauge, truck rail assemblies," said Ivan Meltzer, president of TWB Company. "We look to continue this trend as we grow our capabilities and expand the application of our products, helping our customers find ways to reduce the weight of vehicles while increasing strength."

The use of tailor welded blanks in vehicles has grown in recent years as automakers use light weighting to improve the fuel economy of vehicles in order to meet new targets set by the government. The significantly higher Corporate Average Fuel Economy (CAFE) standards take effect in 2025. Laser welded blanks are made from welding steel blanks of various thicknesses and grades together to form a tailored blank that is then stamped into automotive parts. 

TWB is North America's market leader for tailor welded products with 10 locations in Michigan, Tennessee, Alabama, Ontario and four in Mexico. Formed in 1992, TWB Company, LLC is a joint venture of Worthington Industries and Wuhan Iron and Steel Company. Worthington Industries holds majority ownership and its financial results are consolidated within Worthington's Steel Processing business segment. More information at www.TWBCompany.com.

About Worthington Industries
Worthington Industries is a leading global diversified metals manufacturing company with 2015 fiscal year sales of $3.4 billion. Headquartered in Columbus, Ohio, Worthington is North America's premier value-added steel processor providing customers with wide ranging capabilities, products and services for a variety of markets including automotive, construction and agriculture; a global leader in manufacturing pressure cylinders for industrial gas and cryogenic applications, CNG and LNG storage, transportation and alternative fuel tanks, oil and gas equipment, and brand consumer products for camping, grilling, hand torch solutions and helium balloon kits; and a manufacturer of operator cabs for heavy mobile industrial equipment; laser welded blanks for light weighting applications; automotive racking solutions; and through joint ventures, complete ceiling grid solutions; automotive tooling and stampings; and steel framing for commercial construction. Worthington employs approximately 10,000 people and operates 83 facilities in 11 countries.

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 relating to its ability to increase market participation, expand and integrate capacity, increase efficiencies and reduce lead time, achieve growth in general and in specific markets, and other statements 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

    200 Old Wilson Bridge Rd.
    Columbus, Ohio 43085
    WorthingtonIndustries.com