Worthington Expands Presence In Mexico
03/06/2008 - Worthington Industries joint venture, TWB, will now include ThyssenKrupp Tailored Blanks SA de CV, ThyssenKrupp Steel’s Mexican subsidiary.
Worthington Industries announced today that its joint venture, TWB Co., LLC, will now include ThyssenKrupp Tailored Blanks SA de CV, ThyssenKrupp Steel’s Mexican subsidiary.
With the contribution of the new Mexican operation, ThyssenKrupp Steel North America will own 55% of TWB Co. and Worthington Industries will own the other 45%. By assuming the majority ownership of TWB, ThyssenKrupp Steel furthers the integration of TWB into their worldwide tailored blanks network. ThyssenKrupp also has tailored blank facilities in Germany, China, Turkey, Italy, Sweden and the Czech Republic.
TWB is one of North America’s leading suppliers of tailor welded blanks for use in the automotive industry. Headquartered in Monroe, Mich., the company operates five facilities, two of which are located in Saltillo and Hermosillo, Mexico. ThyssenKrupp’s Mexican subsidiary is located in Puebla with 38 employees.
Serviacero Worthington, a 50%-owned joint venture with Serviacero Planos, has announced plans to expand further in Mexico with a greenfield site in the Monterrey region. The first phase of the Monterrey steel processing operation will include slitting with pickling and blanking added in phase two. This facility would be the steel service center’s third in Mexico, joining existing facilities in Leon and Queretaro in central Mexico.
Worthington Industries is a leading diversified metal processing company with annual sales of approximately $3 billion. The Columbus, Ohio, based company is a premier North American value-added steel processor and a leader in manufactured metal products such as metal framing, metal ceiling grid systems, pressure cylinders, automotive past model service stampings and laser welded blanks. Worthington Industries and its subsidiaries employ more than 8,000 people and operate 68 facilities in 10 countries.
Headquartered in Monroe, Mich., TWB has 400 employees in five facilities, two of which are located in Saltillo and Hermosillo, Mexico.