Last $34.92 USD
Change Today +0.11 / 0.32%
Volume 462.9K
WOR On Other Exchanges
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As of 8:04 PM 10/20/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

200 Old Wilson Bridge Road

Columbus, OH 43085

United States

Phone: 614-438-3210

Fax:

Worthington Industries, Inc., a metals manufacturing company, focuses on value-added steel processing and manufactured metal products. The company’s manufactured metal products include pressure cylinders for liquefied petroleum gas (LPG), compressed natural gas (CNG), oxygen, refrigerant and other industrial gas storage, hand torches and filled hand torch cylinders, propane-filled camping cylinders, cylinders for breathing applications (medical, diving, and firefighting), helium-filled balloon kits, steel and fiberglass tanks and processing equipment primarily for the oil and gas industry, and cryogenic pressure vessels for liquefied natural gas (LNG) and other gas storage applications; engineered cabs and operator stations and cab components; steel pallets and racks; and through joint ventures, suspension grid systems for concealed and lay-in panel ceilings, laser welded blanks, light gauge steel framing for commercial and residential construction, and current and past model automotive service stampings. Segments The company operates in three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs. Steel Processing This segment consists of the Worthington Steel business unit, which includes Precision Specialty Metals, Inc., a specialty stainless processor located in Los Angeles, California; Worthington Steelpac Systems, LLC, which designs and manufactures recyclable steel packaging solutions for the movement of products; Spartan Steel Coating, LLC (Spartan), a consolidated joint venture that operates a cold-rolled hot dipped galvanizing line in Monroe, Michigan; and TWB Company, L.L.C. (TWB), a consolidated joint venture that operates a laser welded blank business headquartered in Monroe, Michigan. This segment serves approximately 1,100 customers, principally in the agricultural, appliance, automotive, construction, hardware, HVAC, lawn and garden, leisure and recreation, and office furniture markets. This segment buys coils of steel from integrated steel mills and mini-mills and processes them to the precise type, thickness, length, width, shape and surface quality required by customer specifications. Computer-aided processing capabilities include cold reducing, which achieves close tolerances of thickness; configured blanking, which stamps steel into specific shapes; cutting-to-length, which cuts flattened steel sheets to exact lengths; dry-lubing, the process of coating steel with a dry, soap-based lubricant; edging, which conditions the edges of the steel by imparting round, smooth or knurled edges; hot-dipped galvanizing, which coats steel with zinc and zinc alloys through a hot-dip process; hydrogen annealing, a thermal process that changes the hardness and certain metallurgical characteristics of steel; laser welding, which joins metal blanks and coils with different thicknesses, coatings or material strength; pickling, a chemical process using an acidic solution to remove surface oxide, which develops on hot-rolled steel; primacoat, which is a high-lubricity, acrylic-based coating; slitting, which cuts steel coils or steel sheets to specific widths; oscillate slitting, a slitting process that spools together various narrow coils welded end to end into one larger coil; temper rolling, which is the process of light cold-rolling sheet steel; tension leveling, a method of applying pressure to achieve precise flatness tolerances; and non-metallic coating, including acrylic and paint coating. This segment also toll processes steel for steel mills, large end-users, service centers, and other processors. Pressure Cylinders This segment consists of the Worthington Cylinders business unit (Worthington Cylinders), which includes two consolidated joint ventures, such as India-based Worthington Nitin Cylinders Limited (Worthington Nitin Cylinders), a manufacturer of high-pressure, steel cylinders for CNG storage in motor vehicles and for industrial gases; and Worthington Aritaº Basinçli Kaplar Sanayi (Worthington Aritas), a manufacturer of cryogenic pressure vessels for LNG and other gas storage applications located in Istanbul, Turkey. This segment manufactures and sells filled and

 

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Industry Analysis

WOR

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Valuation WOR Industry Range
Price/Earnings 17.6x
Price/Sales 0.7x
Price/Book 2.7x
Price/Cash Flow 16.9x
TEV/Sales 0.4x
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