Worthington
Industries
Processor of steel
and metal products.
Headquarters:
200 Old Wilson Bridge Rd.
Columbus, OH 43085
Employees: 8,000
CEO: John McConnell
Stock Symbol: WOR
Website:
http://www.worthingtonindustries.com
Career Site
Worthington Industries is a global company
that processes steel for use in the automotive, construction,
hardware, aerospace and many other industries. The company is
North America's premier value-added steel processor and a leader
in manufactured metal products such as metal framing, pressure
cylinders, automotive past model service stampings, metal ceiling
grid systems and laser welded blanks.
Worthington has over 8,000 employees at
62 facilities in 10 countries. Worthington was named one of the
Best Companies to Work For by Fortune magazine.
The company reported revenues in fiscal
2006 of $2.89 billion, down 6% from the previous year. Net income
was $146.0 million.
History
In 1955, a young steel salesman named John
H. McConnell saw an opportunity for custom processed steel. He
purchased his first load of steel by borrowing $600 against his
1952 Oldsmobile and founded Worthington Industries. First year
earnings were $11,000 generated from sales of $342,000. From
these modest beginnings, McConnell started a company known for
its innovative products and services as well as its unique employee
relationships.
The company expanded and added processing
facilities throughout the late 1950s and 1960s. Profit sharing
was instituted in 1966 and at the same time, all production workers
were put on a salary rather than hourly schedule. In 1968, Worthington
made its first public stock offering of 150,000 shares at $7.50
per share.
In 1971, Worthington purchased a small
cylinders facility. This was the cornerstone of what is today
Worthington Cylinders, one of the company's core businesses.
After only 21 years in business, Worthington
Industries celebrated $100 million in sales in 1976. That same
year, Worthington Cylinders doubled in size. Growth and expansion
continued throughout the 1980s.
During the 1990s, many of the company's
non-core businesses were sold and the end of the decade marked
a renewed focus on our core strengths of steel processing and
metals-related businesses. This focus resulted in a major organizational
transformation in processed steel products devoted to maximizing
assets, promoting efficiency and enhancing competitive advantages.
On April 19, 2000, Worthington Industries
moved to the New York Stock Exchange.
Benefits
The company offers competitive wages linked
to performance, profit sharing, benefits and a stock option plan.
Updated July 22, 2006
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