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TWB Acquires North Vernon, Indiana, Facility


COLUMBUS, Ohio, Oct 5, 2001 /PRNewswire via COMTEX/ -- Worthington Industries (NYSE: WOR) announced today that its joint venture, TWB Company, a leading manufacturer of tailor welded blanks for the North American automotive industry, has acquired the assets of the Makauto, North Vernon, Indiana facility. This acquisition provides TWB with an additional location from which to continue the company's growth. Integrating the North Vernon plant into the TWB organization will position TWB manufacturing capability closer to concentrations of customer stamping plants, according to Tom Fant, President of TWB.

TWB is the leading supplier of tailored blanks to the North American automotive industry. TWB operates today from a large, fully integrated manufacturing facility in Monroe, Michigan, as well as, a manufacturing site in Saltillo, Mexico. TWB supplies tailor welded blanks to all North American OEM manufacturers that purchase welded blanks. TWB is a joint venture company with ownership by Worthington Industries, ThyssenKrupp Stahl, Bethlehem Steel, LTV Steel and Rouge Steel.

Worthington Industries is a leading diversified metal processing company with annual sales of approximately $2 billion. The Columbus, Ohio, based company is North America's premier value-added steel processors, a leader in manufactured metal products such as after-market stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. The company employs 7,500 people and operates 59 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 future revenues, earnings and growth, stock appreciation, plant capabilities 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, but are not limited to, the following: general economic conditions; conditions in the company's major markets; competitive factors and pricing pressures; product material, particularly steel; delays in construction or equipment supply; and other risks described from time to time in the company's filings with the Securities and Exchange Commission.

SOURCE Worthington Industries

Cathy Mayne Lyttle,
VP, Corporate Communications,
or e-mail,,
Allison McFerren Sanders,
Director, Investor Relations,
or e-mail,,
both of Worthington Industries, Inc.

Copyright (C) 2001 PR Newswire. All rights reserved.

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