Tempel is headquartered in Chicago, Ill., USA, with additional manufacturing facilities in Burlington, Ont., Canada; Changzhou, China; Chennai, India; and Monterrey, Mexico.
 
According to Modern Metals, Tempel’s manufacturing techniques provide customers with highly engineered, precision-stamped, electrical steel laminations for electric motors, transformers and generators.
 
“Acquiring Tempel will immediately make us a market leader in the rapidly growing electrical steel market that includes transformers, machine motors and electric vehicle (EV) motors,” said Worthington president and chief executive Andy Rose. “Worthington’s experience and deep relationships in the automotive sector will position Tempel to further penetrate the growing hybrid and EV market.”
 
The US$255 million transaction is expected to close next month.