Talk:Worthington Enterprises

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BetacommandBot (talk) 10:01, 21 January 2008 (UTC)

Vice President Winland: from Lennox

http://worthingtonindustries.com/Company/Leadership-Board-of-Directors/Leadership/Virgil-L-Winland

Worthington Industries, Inc.: “Virgil L. Winland was named senior vice president of manufacturing for Worthington Industries in January of 2001. Winland is responsible for coordinating best practices ... Winland joined Worthington in 1971 when the company acquired the cylinders business from Lennox Industries. Winland was a production worker at Lennox ..."

--Helium4 (talk) 11:45, 20 October 2016 (UTC)

Considerations to Update Page

I have been keeping an eye on this page for the past six months to monitor any updates, and I'd like to share some considerations for accuracy of information shared about Worthington Enterprises. On December 1, 2023, Worthington Industries completed the legal separation of its Steel business, resulting in two new, legal entities: Worthington Enterprises and Worthington Steel.

<ref name=story> {{cite web |url=https://www.forbes.com/sites/joecornell/2023/12/04/worthington-ent-completes-spin-off-of-worthington-steel-on-december-1/ |title=Worthington Ent. Completes Spin-Off Of Worthington Steel On December 1 |last=Cornell |first=Joe |date=December 4, 2023 |website=Forbes |publisher=Forbes |access-date=June 19, 2024}}

<ref name=story>{{cite web |url=https://www.metalcenternews.com/editorial/service-center-news/worthington-industries-completes-split-/45261 |title=Worthington Industries Completes Split |author=Metal Center News Staff |date=December 1, 2023 |website=Metal Center News |access-date=June 19, 2024}}

This article does reflect the update of company name and logo from Worthington Industries to Worthington Enterprises, although content within the article is inaccurate. Most notably: Worthington Enterprises is no longer involved in steel processing; there are still references to the company as Worthington Industries within the article; Serviacero Worthington, TWB Company, Spartan Steel Coating and WSCP, and WSP are not joint ventures involving Worthington Enterprises, and additional updates to the history section may be helpful to readers in providing context to these updates, such as including the separation of Worthington Industries, as well as recent acquisitions completed by Worthington Enterprises. I will soon submit an edit request (disclosing COI) with suggestions to reflect the accuracy of the company and its business segments today, but first thought I should introduce my reasoning for the soon-to-come requested edits.

Analyzer-614 (talk) 15:17, 19 June 2024 (UTC)

Edit Request

{{edit COI|R}}

I am requesting some significant updates to this Worthington Enterprises Wikipedia page, as the company has undergone many changes in the past 12 months and the information currently in place is not accurate. In full transparency, I am an employee of Worthington Enterprises (see my user page for COI designation) and will do my best, with the use of a variety of reputable sources, to present the information in an unbiased manner as my intent here is to simply to make edit requests that reflect the company more accurately.

To provide more detail (and as is included in my request below), on December 1, 2023, the company, formerly Worthington Industries, completed the planned spin-off of its Steel Processing business and officially split into two independent companies: Worthington Enterprises and Worthington Steel. Therefore, the references to metals processing and steel-related information is outdated. I have also included these reasonings in the updates to the History section. The sidebar will also need updated accordingly but I will begin with the main content.

My requested edit to the page is as follows:

Worthington Enterprises, Inc. (formerly Worthington Industries) is an industrial manufacturing company headquartered in Columbus, Ohio. The company is comprised of two business segments, Consumer Products and Building Products. Within these segments, the company designs and manufactures pressure vessels such as propane, oxygen and helium tanks, refrigerant and industrial cylinders, camping and residential use cylinders, water system tanks for storage, treatment, heating, expansion and flow control, as well as a variety of retail products under several brand names.

Worthington Enterprises has 39 facilities, including Joint Venture locations, worldwide and employs nearly 6,000 people.

Consumer Products

Worthington Enterprises is the parent company of consumer brands including Balloon Time helium tanks, Bernzomatic, Garden Weasel, General, HALO, Hawkeye, Level5 Tools, Mag-Torch,  Pactool International and more. Worthington Enterprises is the only manufacturer of disposable 1lb propane cylinders in North America, which are sold under the Bernzomatic and Coleman brand. These gas cylinders are commonly used by consumers for soldering, brazing and welding, and to fuel cooking appliances like camp stoves and grills in a variety of recreational settings like campgrounds, parks, stadium parking lots and other outdoor areas.

Building Products

Worthington Enterprises manufactures building products used in a variety of markets including heating, cooling, construction, power generation, water and other specialty areas. The company also operates two Joint Ventures within this business segment: WAVE (Worthington-Armstrong Venture), a joint venture with Armstrong World Industries, that produces all of the suspended metal ceiling grids supplied by Armstrong, and ClarkDietrich, a joint venture with ClarkWestern Building Systems and Dietrich Metal Framing that manufactures light-gauge metal framing and finishing products, systems and services for commercial and residential construction

History

Worthington Industries was founded in 1955 by John H. McConnell, a steel salesman. McConnell saw an opportunity for custom-processed steel and purchased his first load of steel by borrowing $600 against his 1952 Oldsmobile. He founded the company in Columbus, Ohio, where it is still headquartered.

In his first year of business, McConnell grossed $342,000; his profit was $11,000. Throughout the late 1950s and 1960s, he continued to add processing facilities. In 1966, he started sharing his profits with the people he worked with. In 1968, Worthington Industries made its first public stock offering of 150,000 shares at $7.50 per share. Throughout the 1980s, the company continued to expand rapidly.

In 1996, John H. McConnell's son, John P. McConnell, took over as chairman and CEO. He had worked for the company for more than 20 years, having started as a general laborer and later advancing to sales, operations and personnel.

In 2000, Worthington Industries moved to the New York Stock Exchange.

In June 2017, the company acquired Amtrol for $283 million. Amtrol produces pressure cylinders and water system components, and is the largest provider of expansion tanks to the plumbing and HVAC markets in the United States,

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. The first was the acquisition of German valve and component company PTEC Pressure Technology GmbH. The second was the acquisition of General Tools & Instruments Company LLC (General Tools), a provider of over 1,200 feature-rich, specialized tools, primarily for measuring and marking, found in supply houses, home centers, and hardware stores worldwide.

In 2022, the company announced its intent to spin off its Steel Processing business and split into two separate, publicly traded companies. On November 9, 2023, the separation was approved by the Board of Directors^[5].

On December 1, 2023, Worthington Industries completed its planned separation into two companies: Worthington Enterprises and Worthington Steel^[6]. Andy Rose remained president and CEO of Worthington Enterprises and Geoff Gilmore, former VP and COO of Worthington Industries, was named president and CEO of Worthington Steel.

In 2024, Worthington Enterprises made two significant acquisitions. First was the acquisition of HALO, an outdoor cooking company that makes pizza ovens, griddles and pellet grills. In June, the company announced two transactions with Hexagon Composites in Norway: the partial sale of its Sustainable Energy Solutions (SES) business to create a Joint Venture, and the complete purchase of of Hexagon Ragasco, the composite cylinder division of Hexagon Composites^[7].

In October 2024, president and CEO Andy Rose announced his retirement. Joseph Hayek, who served as the company’s executive vice president and CFO, was selected to replace Rose and officially became president and CEO of Worthington Enterprises on November 1, 2024.

References

1. "Worthington Industries, Inc. Form 10-K Annual Report for the Fiscal Year Ended May 31, 2019". U.S. Securities and Exchange Commission.
2. ^ Jump up to:^{a b c} "Our Story". Worthington Industries.
3. ^ McConnell, Kitty (November 1, 2015). "Q&A: John P. McConnell, Chairman and CEO of Worthington Industries". The Columbus Dispatch.
4. ^ Knox, Tom (June 2, 2017). "Worthington Industries makes biggest acquisition in company history". American City Business Journals.
5. Cornell, Joe (November 16, 2023). “Worthington Industries to Spin-Off Worthington Steel On December 1”. Forbes.
6. Richesson, Brian (December 8, 2023). “Worthington Enterprises completes separation of Worthington Seel”. LPGas Magazine.
7. Pentasuglio, Julia (June 4, 2024). “Worthington Enterprises acquires Hexagon Ragasco, enters joint venture with Hexagon Composites”. LPGas Magazine.
8. Williams, Mark (October 9, 2024). “Andy Rose stepping down as president, CEO of Worthington Enterprises”. The Columbus Dispatch.

Analyzer-614 (talk) 21:06, 5 November 2024 (UTC)