Worthington Steel to Close Baltimore Facility
12/12/2013 - On 10 December 2013, the Steel Processing Segment (Worthington Steel) of Worthington Industries, Inc. announced to its employees that its Baltimore steel facility will be closing by the end of its fiscal year, 31 May 2014.
With the consolidation of the steel industry, many of the mills that previously supplied the Baltimore facility have closed, negatively impacting the supply chain there. The company has concluded that it can more efficiently service its customers in the Mid-Atlantic Region from other Worthington facilities and processing partners, and believes it will retain most of the business.
Production at Baltimore will wind down over the coming months, the company said in a filing with the Securities and Exchange Commission. Employees there will have the opportunity to apply for job openings at other Worthington facilities. For employees who will not continue with the company, severance and outplacement services will be provided.
The company does not expect the net effect from the wind down and closure of the Baltimore facility to have a material impact on its financial position or results of operation.
Production at Baltimore will wind down over the coming months, the company said in a filing with the Securities and Exchange Commission. Employees there will have the opportunity to apply for job openings at other Worthington facilities. For employees who will not continue with the company, severance and outplacement services will be provided.
The company does not expect the net effect from the wind down and closure of the Baltimore facility to have a material impact on its financial position or results of operation.
