SOURCE: Worthington Industries, Inc.

Worthington Industries, Inc.

June 03, 2015 09:15 ET

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

COLUMBUS, OH--(Marketwired - Jun 3, 2015) -  Worthington Industries (NYSE: WOR) today announced that its tailor welded blanking joint venture, TWB Company, LLC, is opening a new facility in Nashville, Tenn. The new facility will include next generation fiber lasers and curvilinear welding technology, expanding TWB's 2D welding capabilities and its ability to reduce weight and increase strength of more parts of a vehicle.

"We are committed to providing meaningful solutions to our customers and they're rewarding us with more business," said Geoff Gilmore, president of Worthington Industries Steel Processing. "Our tailor welded products are helping automakers reduce the weight of vehicles with new, lighter and stronger material choices for car parts."

"The market for tailor welded blanks continues to grow and TWB's capabilities are growing with it," said Ivan Meltzer, president of TWB Company. "We are continually pushing the technology to allow more uses of the product across all vehicle lines. This new Tennessee facility provides capacity to further serve automakers and Tier 1 automotive suppliers in the South."

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 body panels. 

The 120,000 square foot Nashville, Tenn., facility will have approximately 45 employees, and will initially serve General Motors, Nissan and several Tier 1 automotive suppliers. Production is expected to begin by October 2015. The new facility is TWB's 9th in North America; additional locations include Alabama, Michigan, Smyrna, Tenn., 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 (55%) of the joint venture and financial results are consolidated within Worthington's Steel Processing business segment. The venture is North America's market leader for tailor welded products. More information at www.TWBCompany.com.

About Worthington Industries
Worthington Industries is a leading global diversified metals manufacturing company with 2014 fiscal year sales of $3.1 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 11,000 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 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