Steel Mills
Worthington Industries to Close Wooster Facility
Written by Sandy Williams
February 13, 2020
Worthington Industries plans to close its manufacturing plant in Wooster, Ohio, this spring. The oil and gas equipment manufacturing operations will be consolidated into Worthington’s facility in Bremen, Ohio.
“We believe the consolidation of our manufacturing footprint in the East will enable us to better serve our customers and accelerate transformation efforts already under way to reduce costs and improve competitiveness,” said Jacob Garrett, general manager of the oil and gas business for Worthington. “These decisions that impact the lives of our employees are never taken lightly.”
The closing is expected to be completed by May 31, 2020, and will affect 122 employees. About half of the employees will have the opportunity to transfer to the Bremen facility.
The Wooster location makes pressurized cylinders for the oil and gas industries serving customers in the eastern U.S. The Bremen facility makes similar products and recently added a paint and blast facility. Both facilities were acquired during the purchase of the Westerman Companies in September 2012. The company also operates a facility in Tulsa, Okla., which serves oil and gas producers in the West.
Worthington financial results for second-quarter 2020, ending Nov. 30, 2019, were solid. The company reported net sales $827.6 million and net earnings of $52.1 million. Sales in the pressure cylinder segment were stable at $209.1 million, a 1 percent decline from the previous quarter.
During the earnings call, CEO John McConnell said, “The company is operating well, and we are optimistic about our momentum going forward.”
Worthington Industries, headquartered in Columbus, Ohio, operates 57 facilities in 15 states and six countries.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant
ArcelorMittal’s EAF in Alabama expects first heat in Q2
The facility at AMNS Calvert will be the first EAF in North America capable of supplying exposed automotive grades with domestically melted and poured material.
Nucor’s Topalian lauds Trump’s trade policies, downplays impact
Nucor’s top exec Leon Topalian said the benefit of the current administration’s aggressive trade policies “trumps” any risk of potentially higher raw materials prices.
SSAB reports higher production, shipments
But profits slipped vs. last year.
Nucor earnings slump in first quarter, but better times seen ahead
Nucor’s profits fell precipitously in the first quarter, but the company has a rosier outlook for the following quarter.