Worthington Industries Reveals New Company Identities Ahead of Anticipated December Separation; Announces 2023 Investor and Analyst Day

COLUMBUS, Ohio, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. (NYSE: WOR), a leading industrial manufacturing company, today announced the names and branding for the two companies resulting from the planned separation. Worthington Enterprises will include the Company’s Building Products, Consumer Products and Sustainable Energy Solutions businesses. Worthington Steel will be the Company’s Steel Processing business. The separation is expected to occur as early as December 2023, ahead of the originally projected timing of early 2024.

The Worthington Enterprises name represents the organization’s strong heritage, entrepreneurial spirit, and market-leading brands and innovative products that improve lives.  

“We felt that keeping Worthington in our name was important because we will continue to operate by Our Philosophy and Golden Rule principles,” said Andy Rose, president and chief executive officer of Worthington Industries, who will continue in the same role for Worthington Enterprises. “The word ‘Enterprises’ is most often associated with entrepreneurial ventures – and that is who we are at Worthington Enterprises. We are entrepreneurs, designers, manufacturers, and acquirers of innovative brands and products in attractive end markets.”

Worthington Steel honors the legacy of the Company’s history with a return to the original name of the steel processing business John H. McConnell founded in 1955. The icon is equally sharp-edged and smooth, alluding to the versatility of steel as a raw material and the role it will play in the energy transition.

Geoff Gilmore, chief operating officer and executive vice president, Worthington Industries, will become president and chief executive officer of Worthington Steel. He said, “Our entire team is energized to boldly lead the metals industry into a sustainable future as the most trusted, most innovative and most value-added metals processing partner in North America and beyond. Based on our legacy, reputation of dependability and forward-thinking, and our people-first principles, we are well positioned to partner with customers to provide steel processing, electrical steel laminations, tailor welded solutions and other value-added services to serve growing markets.”