Worthington Board OKs Separation of Steel Processing Business

Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

This will be done via a spin-off generally intended to be tax-free to shareholders for US federal income tax purposes, the Columbus, Ohio-based company said.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.