Steel Products

Worthington Steel completes spinoff, now a standalone company

December 1, 2023

Worthington Industries has completed its planned split into two separate companies: Worthington Steel Inc. and Worthington Enterprises Inc.

Worthington Steel is based in Columbus, Ohio, and specializes in carbon flat-rolled steel processing, electrical steel lamination, and tailor welding. It operates 31 facilities in seven states and five countries and employs 4,500 people. Geoff Gilmore is the new company’s CEO.

Worthington Enterprises designs and manufactures building products, consumer products, and sustainable energy solutions. It has 5,000 employees in North America and Europe. Its headquarters are also in Columbus, Ohio.

“Today is a major milestone in Worthington’s history. As separate companies, both Worthington Enterprises and Worthington Steel will be better able to serve their respective customers, deliver on their more focused strategic priorities, and create superior long-term shareholder value,” commented Andy Rose, president and CEO of Worthington Enterprises, in a statement.

Worthington first announced its plans to spin off its steel processing business last year.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.