Tag: Worthington Steel

Worthington Steel has exceeded the minimum share threshold for its acquisition of Kloeckner and Co.

Worthington Steel reported steady progress on its planned acquisition of Kloeckner & Co., calling the deal a major strategic step as steel markets show early signs of tightening in the US and remain under pressure in Europe.

Worthington Steel reporter lower FY Q3 earnings on what its CEO described as "challenging" macroeconomic conditions.

Klockner & Co.'s North American business closed 2025 with its strongest fourth quarter on record, even as pricing and currency effects weighed on revenue. The update comes as Worthington Steel moves close to securing control of the German distributor through an ongoing public takeover bid.

Worthington Steel reduced its minimum acceptance threshold to 57.5% for its purchase of Kloeckner & Co.  

Reuters on Monday quoted Worthington Steel President and CEO Geoff Gilmore as saying the company has alternative targets if its deal to acquire Germany-based service center group Kloeckner & Co. doesn't happen.

The chief executives at Worthington Steel and Kloeckner Metals weren’t coy about hitting aggressive near-term financial targets in their fireside chat at the Tampa Steel Conference last week.  

I want to say a big thank you to everyone who attended the Tampa Steel Conference. More than 600 people – smashing the record we set last year.

SMU interviews Worthington Steel CEO Geoff Gilmore about the recent Kloeckner & Co. buy.

We’ve got some exciting announcements to make about the Tampa Steel Conference, which is now less than a month away! First, I’m very happy to say that Worthington Steel President and CEO Geoff Gilmore will be joining Kloeckner Metals CEO John Ganem on the stage for a fireside chat with my colleague David Schollaert.

Worthington Steel has announced it will acquire Germany's Kloeckner & Co, creating second-largest steel service company in North America.

Worthington Steel executives emphasized on an earnings conference call on Thursday that the company’s standout fiscal Q2 performance came from capturing new automotive business, with direct automotive shipments rising 26% year over year.

Worthington Steel reported higher profits and sales in its fiscal second quarter of 2026.

Worthington Steel is in talks to possibly take over German-based service center chain Klöckner & Co. SE, both companies have confirmed.

Worthington Steel saw a strong first quarter to kick off its fiscal 2026 as both profits and sales notched increases.

The American Iron and Steel Institute (AISI) has added Worthington Steel to its membership roster and elected Geoff Gilmore, president and chief executive officer of the steel processor, to its board of directors. 

The chief executives from Majestic Steel, Olympic Steel, and Worthington Steel swapped notes on inventory discipline, customer trust, and the race to turn AI from hype into results.

CEO Geoff Gilmore praised his employees for gaining market share, filling open capacity, and exceeding customer expectations.

Worthington Steel earnings rose while sales fell in its fiscal fourth quarter.

The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.

Worthington Steel is preparing to move its corporate headquarters to the Easton area of Columbus, Ohio.

This is the Ohio-based steelmaker’s fourth time winning the award.

Lower volumes and steel prices dampened Worthington Steel’s profits, but market momentum is building, the metals processor said in its most recent quarterly earnings report.

Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland. WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.

"Personally, I find it very hard to believe that we would be in a trade war with Mexico and Canada for more than a few months at any given time. I don't know how Mexico and Canada could survive that. That's a recession for them. That's a few points off GDP for us - my opinion.”

Worthington Steel's CEO feels optimistic as the company heads into its second year as a standalone company.

Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.

Worthington Steel has reached an agreement to acquire a controlling equity stake in Italian-based electric motor lamination producer Sitem SpA.

Worthington Steel has named Cliff Larivey as the company’s president of flat-rolled steel processing, effective Dec. 1. He will replace Jeff Klingler, who had been performing the role for the past year.

Worthington Steel’s earnings tumbled in its fiscal first quarter of 2025. The company cited a drop in selling prices and tons sold for the sales dip for the three months ended Aug. 31.