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Worthington Industries history
Worthington Industries company history timeline
By June 1955, The Worthington Steel Company was incorporated.
In 1966, he started sharing his profits with the people he worked with.
In its first year as a public company, the fiscal year ended May 1969, Worthington reported sales of $21 million and net earnings of $460,000.
The company changed its name from Worthington Steel to Worthington Industries in 1971 to mark its first diversification step: the purchase of the small, unprofitable pressure cylinder business of Lennox Industries.
In 1976, the company celebrated $100 million in sales.
Another diversification step was the 1978 acquisition of U-Brand Corporation which made malleable iron, plastic, and steel pipe fittings, sold through hardware and plumbing supply stores.
Besides Buckeye, two 1980 acquisitions added further specialized skills to the steel castings division, Capital Die, Tool and Machine Company and I. H. Schlezinger & Sons.
Worthington started on the joint venture track in 1986 when it teamed with United States Steel to form Worthington Specialty Processing in Jackson, Michigan, already the site of a Worthington steel processing plant.
Through its cylinder business, Worthington later established a Canadian foothold in 1988 with the acquisition of Metal Flo Corp.
It teamed with two Japanese companies--Nissen Chemical and Sumitomo--in 1988 to form London Industries, based in London, Ohio, which made molded plastic parts for Honda and a number of other foreign companies with United States production facilities.
It was selected as one of five companies with "Factories that Shine" in a 1989 Fortune article on efforts to restore America's manufacturing leadership.
The acquisition in early 1992 of Alabama-based North American Cylinders moved Worthington into acetylene cylinders (important in welding) and high-pressure tanks.
In May 1995 Worthington announced plans to build a $65 million steel processing plant near the mill, with projected output of $250 million.
Seeking to expand into businesses related to its core lines, in early 1996 Worthington announced that it would purchase Dietrich Industries, a premier producer of metal framing products, for $146 million in cash and the assumption of $30 million in debt.
In 1996, John McConnell’s son, also named John, took over as chairman and CEO after 20 years with the company.
In 2000, Worthington Industries moved to the New York Stock Exchange.
In September 2020, former company President Andy Rose was named Worthington Industries' President & CEO, succeeding long-time Chairman and CEO John P. McConnell.
In January 2021, the company made two acquisitions.
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Worthington Industries competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| United States Steel | 1901 | $15.6B | 23,350 | 353 |
| Church & Dwight Co. | 1846 | $6.1B | 4,700 | 67 |
| Celanese | 1918 | $10.3B | 7,714 | 77 |
| The Dow Chemical Company | 1897 | $43.0B | 54,000 | 267 |
| Koch Industries | 1940 | $115.0B | 100,000 | 47 |
| Yellow | 1924 | $5.2B | 19,000 | 2 |
| Berkshire Hathaway | 1839 | $371.4B | 360,000 | 355 |
| Battelle | 1923 | $6.2B | 3,200 | 347 |
| UPS | 1907 | $91.1B | 481,000 | 1,331 |
| Cintas | 1968 | $9.6B | 40,000 | 2,009 |
Worthington Industries history FAQs
Zippia gives an in-depth look into the details of Worthington Industries, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Worthington Industries. The employee data is based on information from people who have self-reported their past or current employments at Worthington Industries. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Worthington Industries. The data presented on this page does not represent the view of Worthington Industries and its employees or that of Zippia.
Worthington Industries may also be known as or be related to Worthington Industries, Worthington Industries Inc and Worthington Industries, Inc.