COLUMBUS, Ohio, Oct 5, 2001 /PRNewswire via COMTEX/ -- Worthington Industries
(NYSE: WOR) announced today that its joint venture, TWB Company, a leading
manufacturer of tailor welded blanks for the North American automotive industry,
has acquired the assets of the Makauto, North Vernon, Indiana facility. This
acquisition provides TWB with an additional location from which to continue the
company's growth. Integrating the North Vernon plant into the TWB organization
will position TWB manufacturing capability closer to concentrations of customer
stamping plants, according to Tom Fant, President of TWB.
TWB is the leading supplier of tailored blanks to the North American automotive
industry. TWB operates today from a large, fully integrated manufacturing
facility in Monroe, Michigan, as well as, a manufacturing site in Saltillo,
Mexico. TWB supplies tailor welded blanks to all North American OEM
manufacturers that purchase welded blanks. TWB is a joint venture company with
ownership by Worthington Industries, ThyssenKrupp Stahl, Bethlehem Steel, LTV
Steel and Rouge Steel.
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 processors, a leader in manufactured
metal products such as after-market stampings, pressure cylinders, metal
framing, metal ceiling grid systems and laser welded blanks. The company employs
7,500 people and operates 59 facilities in 11 countries.
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, earnings and growth, stock
appreciation, plant 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 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.
SOURCE Worthington Industries
CONTACT:
Cathy Mayne Lyttle,
VP, Corporate Communications,
1-614-438-3077,
or e-mail, cmlyttle@WorthingtonIndustries.com,
or
Allison
McFerren Sanders,
Director, Investor Relations,
1-614-840-3133,
or e-mail,
asanders@WorthingtonIndustries.com,
both of Worthington Industries, Inc.
URL: http://www.worthingtonindustries.com
Copyright (C) 2001 PR Newswire. All rights reserved.