COLUMBUS, Ohio--(BUSINESS WIRE)--June 14, 2004--Dietrich Metal
Framing, a Worthington Industries company (NYSE:WOR), today announced
that it is in discussions with Encore Coils about the possibility of
forming a Canadian metal framing joint venture.
The two companies have initially put a distribution agreement in
place in which Encore will purchase Dietrich's metal framing products
for distribution in Canada. The companies will continue joint venture
discussions over the next few months.
"We are excited about the possibility of partnering with one of
Canada's leading steel operations", said Ed Ponko, president of
Dietrich Metal Framing. "Expanding our products and services into
Canada aligns with our growth strategy. Encore brings a proven
management team, strong depth of understanding of the Canadian
building materials market and a steady supply of its steel. We look
forward to working with Encore in pursuing the market."
Dietrich Metal Framing is the largest manufacturer of steel
framing products in the United States. Dietrich's 2,000 employees in
26 facilities use state-of-the-art equipment and in-house metallurgic
labs to ensure superior products and competitive prices. Dietrich
Metal Framing, founded in 1959, is a subsidiary of Worthington
Industries.
Worthington Industries is a leading diversified metal processing
company with annual sales of more than $2 billion. The Columbus, Ohio,
based company is North America's premier value-added steel processor
and a leader in manufactured metal products such as automotive
aftermarket stampings, pressure cylinders, metal framing, metal
ceiling grid systems and laser welded blanks. The company employs
8,000 people and operates 61 facilities in 10 countries.
Headquartered in Edmonton, Alberta, Encore Coils offers slitting,
blanking, decoiling and inventory management services from facilities
in Edmonton and Calgary, Alberta, Kelowna, and Surrey, BC; Saskatoon,
Saskatchewan; and Winnipeg, Manitoba.
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: Worthington Industries, Inc.
Corporate Communications:
Cathy Mayne Lyttle, 614-438-3077
cmlyttle@WorthingtonIndustries.com
or
Investor Relations:
Allison McFerren Sanders, 614-840-3133
asanders@WorthingtonIndustries.com
SOURCE: Worthington Industries