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Worthington Announces New President of TWB Company


COLUMBUS, OH -- (Marketwired) -- 09/11/13 -- Worthington Industries, Inc. (NYSE: WOR) announced today that Ivan Meltzer has been named the president of TWB Company, the Company's laser welded blanking joint venture with Wuhan Iron and Steel Company, replacing interim president and CFO Michael Lowrey. Lowrey will continue as executive vice president and CFO. Meltzer has been with Worthington Industries in various sales roles for more than 15 years, most recently as the director of automotive for Worthington's Steel Processing business segment. Meltzer will report to Geoff Gilmore, president of Worthington's Steel Processing business segment who will also serve as chairman of the TWB board of directors.

"Ivan brings a great deal of experience and leadership to TWB," said Gilmore. "His success in directing and growing our automotive business and his previous experience at TWB has prepared him well for this new role."

Meltzer, 51, was previously with TWB Company from 1995 to 2003 working in various sales positions including vice president of sales and marketing. From 2003 to 2007, he was chief commercial officer at Kasle Steel. He returned to Worthington in 2008 as automotive accounts manager and in 2010 was named director of automotive and regional manager. Meltzer is a graduate of the University of Texas.

About TWB Company, LLC
TWB Company, LLC was formed in 1992 as a joint venture between ThyssenKrupp and Worthington Industries. In July 2013, Wuhan Iron and Steel Company purchased a 45 percent ownership in TWB from ThyssenKrupp and Worthington acquired an additional 10 percent bringing its ownership share to 55 percent. As a result of the majority ownership, TWB is now consolidated within the Steel Processing segment of Worthington Industries.

TWB has played a key role in the development of the tailor welded blank market in North America since its inception and is currently the leading manufacturer of tailor welded products in the NAFTA region. TWB operates seven facilities in North America supporting JIT production and services to customers.

About Worthington Industries
Worthington Industries is a leading diversified metals manufacturing company with 2013 fiscal year sales of $2.6 billion. The Columbus, Ohio based company is North America's premier value-added steel processor and a leader in manufactured metal products, such as propane, oxygen, refrigerant and industrial cylinders, hand torches, camping cylinders, scuba tanks, compressed natural gas storage cylinders, helium balloon kits and exploration, recovery and production tanks for global energy markets; custom-engineered open and enclosed cabs and operator stations for heavy mobile equipment; steel pallets and racks; and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings, current and past model automotive service stampings, laser welded blanks, and light gauge steel framing for commercial and residential construction. Worthington employs approximately 10,000 people and operates 82 facilities in 11 countries.

Founded in 1955, the Company operates under a long-standing corporate philosophy rooted in the golden rule. Earning money for its shareholders is the first corporate goal. This philosophy serves as an unwavering commitment to the customer, supplier, and shareholder, and it serves as the Company's foundation for one of the strongest employee-employer partnerships in American industry.

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.

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

Source: Worthington Industries, Inc.

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