News Details

COLUMBUS, Ohio (January 17, 2001) – Dietrich Metal Framing, a Worthington Industries Company, has begun operations to manufacture residential and commercial framing components in Kapolei, Hawaii, and Renton, Wash.

In Hawaii, the company has acquired the operating assets of Studco of Hawaii, a division of Kirri. The acquisition gives Dietrich two roll forming machines and the capacity to run a full line of residential framing components.  In addition, Dietrich purchased the majority of Studco's remaining inventory, which includes raw coil and finished framing materials.

The operations, located in Campbell Industrial Park in Kapolei, will employ 15 people. The facility will help the company meet housing demands in Hawaii and, at the same time, serve as a proving ground where Dietrich will test new products and training techniques.

“The Studco acquisition will help our company address the residential framing needs in Hawaii, where over half of all new homes use metal framing.  It will also provide us with a real world research center.  The housing market in Hawaii provides us valuable information about our products and will help us to better serve our customers across the country,” said Dick Berdik, President of Dietrich Industries.

Dietrich also established operations in Renton, Wash.  The new line in the Seattle suburb gives the company strategic locations in every major metropolitan area of North America.  The Renton operations will serve Washington, Oregon, Alaska, Northern Idaho and Western Canada.

The facility, which has been acting as a distribution location for the company since January 1, will begin manufacturing commercial framing products in the first quarter and will eventually employ 25 people.  Additional production capabilities will be added later this year.

“These two operations really give our company the ability to serve both the residential and commercial framing markets better than we ever have,” Berdik said.  “We now have operations in strategic locations throughout the country that will provide quality products and service to our customers in a timely manner.”

The company says it expects both facilities to be fully operational by the end of calendar 2001 and profitable by mid-2002.

Founded in 1959, Dietrich Metal Framing is the largest manufacturer of steel framing products in the United States. Dietrich's 1500 employees in 20 modern facilities use state-of-the-art equipment and in-house metallurgic labs to ensure superior product performance and competitive prices. Dietrich Industries is a Worthington Industries Company.

Worthington Industries is a leading diversified metal processing company with annual sales of approximately $2 billion. The Columbus, Ohio, based company is North America's premier value-added steel processor and a leader in manufactured metal products such as automotive aftermarket stampings, pressure cylinders, metal framing, metal ceiling grid systems and laser welded blanks. The company employs 8,000 people and operates 57 facilities in 11 countries.

Founded in 1955, the company operates under a long-standing corporate philosophy rooted in the golden rule, with earning money for its shareholders as the first corporate goal.  The philosophy, an unwavering commitment to the customer, and one of the strongest employee/employer partnerships in American industry, serve as the Company's foundation.

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 relating to future revenues and growth, stock appreciation, plant startups, capabilities and other statements 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, but are not limited to, the following: general economic conditions; conditions in the Company's major markets; competitive factors and pricing pressures; product demand and changes in product mix; changes in pricing or availability of raw material, particularly steel; delays in construction or equipment supply; and other risks described from time to time in the Company's filings with the Securities and Exchange Commission.