Worthington Industries to Expand Capacity for Motor and Transformer Laminations at its Tempel Mexico Facility
October 05 2023 - 4:05PM
Worthington Industries, Inc., (NYSE: WOR), a leading industrial
manufacturing company, today announced the expansion of its Tempel
Steel facility in Apodaca, Mexico, which is operated by
Worthington’s Steel Processing business segment.
Tempel will re-engineer the footprint of its existing production
area and add operations to an adjacent 185,000 square-foot
facility. These moves will facilitate a significant expansion of
Tempel’s Focused Factory, which produces highly engineered traction
motor laminate cores for electric vehicles. With expanded
production expected to come online in 2024, Apodaca will be
Tempel’s largest production site for motor and transformer
laminations for the electric vehicle market.
“The acquisition of Tempel in 2021 helped make Worthington a
leader in the rapidly growing electrical steel market that includes
transformers, machine motors and electric vehicle motors,” said
Geoff Gilmore, Chief Operating Officer for Worthington Industries.
“Our expansion of the Apodaca facility is further demonstration of
our commitment to this market and to our employees across
Tempel.”
The increased capacity will allow Tempel to leverage the
experience and expertise of the Apodaca community, including the
more than 500 members of the current Tempel Steel local workforce.
Tempel expects to add as many as 400 new positions to its Apodaca
staff over the next five years.
About Tempel SteelTempel Steel, a Worthington
Industries company, is a global leader in the manufacturing of high
precision electrical steel laminations for motors and transformers
with manufacturing and distribution locations in the United States,
Canada, China, Mexico, and India. Tempel is a partner of choice
that provides global material sourcing, metallurgical analysis,
advanced product design, prototyping and various value-added
capabilities, such as core assembly, annealing, laser welding,
bonding and blank and notching. Tempel Chennai provides high
quality stator and motor stampings for use in Dana’s Electric
Vehicle platforms.
About Worthington IndustriesWorthington
Industries (NYSE:WOR) is a leading industrial manufacturing company
pursuing its vision to be the transformative partner to its
customers, a positive force for its communities and earn
exceptional returns for its shareholders. For over six decades, the
Company has been delivering innovative solutions to customers
spanning industries such as automotive, energy, retail and
construction. Worthington is North America’s premier value-added
steel processor and producer of laser welded solutions and
electrical steel laminations that provide lightweighting, safety
critical and emission reducing components to the mobility market.
Through on-board fueling systems and gas containment solutions,
Worthington serves the growing global hydrogen ecosystem. The
Company’s focus on innovation and manufacturing expertise extends
to market-leading consumer products in tools, outdoor living and
celebrations categories, sold under brand names, Coleman®,
Bernzomatic®, Balloon Time®, Level5 Tools®, Mag Torch®,
Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and
Hawkeye™; as well as market leading building products, including
water systems, heating & cooling solutions, architectural and
acoustical grid ceilings and metal framing and accessories.
Headquartered in Columbus, Ohio, Worthington operates 52
facilities in 15 states and nine countries, sells into over 90
countries and employs approximately 9,000 people. Founded in 1955,
the Company follows a people-first Philosophy with earning money
for its shareholders as its first corporate goal. Relentlessly
finding new ways to drive progress and transform, Worthington is
committed to providing better solutions for customers and bettering
the communities where it operates by reducing waste, supporting
community-based non-profits and developing the next generations of
makers.
Safe Harbor StatementWorthington Industries
wishes to take advantage of the Safe Harbor provisions included in
the Private Securities Litigation Reform Act of 1995 (the “Act").
Statements by Worthington Industries which are not historical
information constitute "forward looking statements" within the
meaning of the Act. All forward-looking statements are subject to
risks and uncertainties which could cause actual results to differ
from those projected. Factors that could cause actual results to
differ materially include risks, uncertainties and impacts
described from time to time in Worthington Industries’ filings with
the Securities and Exchange Commission, including those related to
COVID-19 and the various actions taken in connection therewith,
which could also heighten other risks.
Contacts:SONYA L. HIGGINBOTHAMVP,
CORPORATE COMMUNICATIONS AND BRAND
MANAGEMENT614.438.7391 | sonya.higginbotham@worthingtonindustries.com
MARCUS A. ROGIERTREASURER AND
INVESTOR RELATIONS OFFICER614.840.4663 |
marcus.rogier@worthingtonindustries.com
200 Old Wilson Bridge Rd. | Columbus, Ohio 43085WorthingtonIndustries.com
Worthington Enterprises (NYSE:WOR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Worthington Enterprises (NYSE:WOR)
Historical Stock Chart
From Sep 2023 to Sep 2024