Aegis Metal Framing unites two of the most widely recognized names in light
gauge steel framing. By combining the world-class manufacturing and distribution
skills of Dietrich and the software, engineering and marketing functions of
MiTek's Steel Framing Systems division, Aegis offers building component
producers an unparalleled array of products and services. "We are absolutely
focused on driving the demand for factory-built, light gauge components," states
Thomas Valvo, President of Aegis. "Aegis offers a unique business model by
providing our fabricator customers with a complete suite of whole-structure
design, estimating, and management software, a full line of metal framing
products, and integrated professional engineering services. Architects,
contractors and component fabricators specializing in commercial and
institutional construction will be the primary beneficiaries of this entirely
new kind of company."
According to Ed Ponko, President of Dietrich, "Aegis offers a new vision for our
industry. Pre-fabricated, engineered products marketed with strong software and
engineering overtones present the finest opportunities to unlock value for all
members of the building team."
Gene Toombs, Chairman and CEO of MiTek, adds, "Our two organizations' strengths
and skill sets complement each other perfectly. Our customers and the
contractors they supply are going to be delighted with what Aegis has to offer."
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
currently employs 7,500 people and operates 57 facilities in 10 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. This 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 sales and operating results; projected capacity
levels; anticipated capital expenditures; market and product development; and
other non-historical information constitute "forward- looking statements" within
the meaning of the Act. Because they are based on beliefs, estimates and
assumptions, forward-looking statements are inherently subject to risks and
uncertainties that could cause actual results to differ materially from those
projected. Any number of factors could affect actual results, including, without
limitation, product demand, changes in product mix and market acceptance of
products; changes in pricing or availability of raw materials, particularly
steel; effects of plant closures and the consolidation of operations; capacity
restraints and efficiencies; conditions in major product markets; delays in
construction or equipment supply; financial difficulties of customers, suppliers
and others with whom we do business; the effect of national, regional and
worldwide economic conditions; risks associated with doing business
internationally, including economical, political and social instability, and
foreign currency exposure; acts of war and terrorist activities; the ability to
improve processes and business practices to keep pace with the economic,
competitive and technological environment; the business environment and impact
of governmental regulations, both in the United States and abroad; and other
risks described from time to time in filings with the SEC.
SOURCE Worthington Industries, Inc.
CONTACT:
Cathy Mayne Lyttle, VP, Corporate Communications,
+1-614-438-3077,
or cmlyttle@WorthingtonIndustries.com,
or Allison McFerren
Sanders, Director, Investor Relations, +1-614-840-3133,
or
asanders@WorthingtonIndustries.com,
both of Worthington Industries
URL:
http://www.worthingtonindustries.com
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