TWB Gains Additional Mexico Facility and Serviacero Worthington
Announces Greenfield Plans
COLUMBUS, Ohio--(BUSINESS WIRE)--March 5, 2008--Worthington
Industries (NYSE:WOR) announced today that its joint venture, TWB
Company, L.L.C., will now include ThyssenKrupp Tailored Blanks S.A. de
C.V., ThyssenKrupp Steel's Mexican subsidiary. With the contribution
of the new Mexican operation, ThyssenKrupp Steel North America will
own 55 percent of TWB Company and Worthington Industries 45 percent.
By assuming the majority ownership of TWB, ThyssenKrupp Steel furthers
the integration of TWB into their worldwide tailored blanks network.
ThyssenKrupp also has tailored blank facilities in Germany, China,
Turkey, Italy, Sweden and the Czech Republic.
Headquartered in Monroe, Michigan, TWB Company has 400 employees
in five facilities, two of which are located in Saltillo and
Hermosillo, Mexico. ThyssenKrupp's Mexican subsidiary is located in
Puebla with 38 employees. TWB is one of North America's leading
suppliers of tailor welded blanks for use in the automotive industry.
Serviacero Worthington, a 50 percent-owned joint venture with
Serviacero Planos has announced plans to expand further in Mexico with
a greenfield site in the Monterrey, Mexico region. The addition of
this facility would give Serviacero Worthington three locations in
Mexico. The first phase of the Monterrey steel processing operation
will include slitting with pickling and blanking added in phase-two.
Serviacero Worthington is a steel service center with facilities in
Leon and Queretaro in central Mexico.
Worthington Industries is a leading diversified metal processing
company with annual sales of approximately $3 billion. The Columbus,
Ohio, based company is North America's premier value-added steel
processor and a leader in manufactured metal products such as metal
framing, metal ceiling grid systems, pressure cylinders, automotive
past model service stampings and laser welded blanks. Worthington
Industries and its subsidiaries employ more than 8,000 people and
operate 68 facilities in 10 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: Worthington Industries, Inc.
Media Contact:
Cathy M. Lyttle, 614-438-3077
VP, Corporate Communications
E-mail: cmlyttle@WorthingtonIndustries.com
or
Investor Contact:
Allison M. Sanders, 614-840-3133
Director, Investor Relations
E-mail: asanders@WorthingtonIndustries.com
or
www.WorthingtonIndustries.com
SOURCE: Worthington Industries