Processor of steel and metal products.
200 Old Wilson Bridge Rd.
Columbus, OH 43085
CEO: John McConnell
Stock Symbol: WOR
Worthington Industries is a global company that processes steel for use in the automotive, construction, hardware, aerospace and many other industries. The company is North America's premier value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems and laser welded blanks.
Worthington has over 8,000 employees at 74 facilities in 11 countries. Worthington was named one of the Best Companies to Work For by Fortune magazine four times.
The company reported revenues in fiscal 2010 of $1.94 billion and net income of $45.2 million.
In 1955, a young steel salesman named John H. McConnell saw an opportunity for custom processed steel. He purchased his first load of steel by borrowing $600 against his 1952 Oldsmobile and founded Worthington Industries. First year earnings were $11,000 generated from sales of $342,000. From these modest beginnings, McConnell started a company known for its innovative products and services as well as its unique employee relationships.
The company expanded and added processing facilities throughout the late 1950s and 1960s. Profit sharing was instituted in 1966 and at the same time, all production workers were put on a salary rather than hourly schedule. In 1968, Worthington made its first public stock offering of 150,000 shares at $7.50 per share.
In 1971, Worthington purchased a small cylinders facility. This was the cornerstone of what is today Worthington Cylinders, one of the company's core businesses.
After only 21 years in business, Worthington Industries celebrated $100 million in sales in 1976. That same year, Worthington Cylinders doubled in size. Growth and expansion continued throughout the 1980s.
During the 1990s, many of the company's non-core businesses were sold and the end of the decade marked a renewed focus on our core strengths of steel processing and metals-related businesses. This focus resulted in a major organizational transformation in processed steel products devoted to maximizing assets, promoting efficiency and enhancing competitive advantages.
On April 19, 2000, Worthington Industries moved to the New York Stock Exchange.
The company offers competitive wages linked to performance, profit sharing, benefits and a stock option plan.
Updated July 25, 2011