Worthington Industries to Purchase Rome Strip Steel
01/16/2015 - Worthington Industries Inc. has signed an agreement to acquire the business of Rome Strip Steel Co. Inc.
Rome manufactures cold rolled strip steel to extremely tight tolerances, primarily for the automotive industry. The transaction is expected to be completed later this month.
"Rome is one of the best in the industry with a culture similar to Worthington," said Geoff Gilmore, president of Worthington Industries Steel Processing. "The addition of Rome will expand our ability to process close-tolerance material with custom surface finishes and increase our overall production capacity. This acquisition supports our strategy to focus our growth on high value-added products."
Rome Strip Steel is located in Rome, N.Y., with a warehouse facility in Walhalla, S.C., and employs 130 people. In business since 1926, Rome's capabilities include rolling, annealing and slitting a wide range of cold rolled alloy, high carbon, low carbon close tolerance strip steels and various grades of high and low strength alloy steels. The addition of Rome will expand the Company's cold rolled strip steel production capacity to three facilities including Columbus and Cleveland, Ohio. Rome's 2013 sales were approximately US$70 million.
Worthington Industries is a leading global diversified metals manufacturing company with 2014 fiscal year sales of US$3.1 billion. Headquartered in Columbus, Ohio, Worthington is North America's premier value-added steel processor providing customers with wide ranging capabilities, products and services for a variety of markets including automotive, construction and agriculture; a global leader in manufacturing pressure cylinders for industrial gas and cryogenic applications, CNG and LNG storage, transportation and alternative fuel tanks, oil and gas equipment, and brand consumer products for camping, grilling, hand torch solutions, scuba diving and helium balloon kits; and a manufacturer of operator cabs for heavy mobile industrial equipment; laser welded blanks for light weighting applications; automotive racking solutions; and through joint ventures, complete ceiling grid solutions; automotive tooling and stampings; and steel framing for commercial construction. Worthington employs approximately 11,000 people and operates 83 facilities in 10 countries.
"Rome is one of the best in the industry with a culture similar to Worthington," said Geoff Gilmore, president of Worthington Industries Steel Processing. "The addition of Rome will expand our ability to process close-tolerance material with custom surface finishes and increase our overall production capacity. This acquisition supports our strategy to focus our growth on high value-added products."
Rome Strip Steel is located in Rome, N.Y., with a warehouse facility in Walhalla, S.C., and employs 130 people. In business since 1926, Rome's capabilities include rolling, annealing and slitting a wide range of cold rolled alloy, high carbon, low carbon close tolerance strip steels and various grades of high and low strength alloy steels. The addition of Rome will expand the Company's cold rolled strip steel production capacity to three facilities including Columbus and Cleveland, Ohio. Rome's 2013 sales were approximately US$70 million.
Worthington Industries is a leading global diversified metals manufacturing company with 2014 fiscal year sales of US$3.1 billion. Headquartered in Columbus, Ohio, Worthington is North America's premier value-added steel processor providing customers with wide ranging capabilities, products and services for a variety of markets including automotive, construction and agriculture; a global leader in manufacturing pressure cylinders for industrial gas and cryogenic applications, CNG and LNG storage, transportation and alternative fuel tanks, oil and gas equipment, and brand consumer products for camping, grilling, hand torch solutions, scuba diving and helium balloon kits; and a manufacturer of operator cabs for heavy mobile industrial equipment; laser welded blanks for light weighting applications; automotive racking solutions; and through joint ventures, complete ceiling grid solutions; automotive tooling and stampings; and steel framing for commercial construction. Worthington employs approximately 11,000 people and operates 83 facilities in 10 countries.
