Worthington Industries Announces Price Increase on Non-Refillable Steel Cylinders
COLUMBUS, Ohio—March 31, 2021—Worthington Industries (NYSE:WOR) today announced a price increase on non-refillable steel cylinders for industrial products including refrigerant, foam and adhesive. Prices will advance 15 percent effective on all orders shipping on or after May 1, 2021, or as contracts allow.
“Commodity prices and manufacturing costs continue to increase, and we must adjust accordingly,” said Jimmy Bowes, general manager of the industrial products business for Worthington Industries.
About Worthington Industries
Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company delivering innovative solutions to customers that span many industries including transportation, construction, industrial, agriculture, retail and energy. Worthington is North America’s premier value-added steel processor and producer of laser welded products; and a leading global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems, outdoor living, tools and celebrations. The Company’s brands, primarily sold in retail stores, include Coleman®, Bernzomatic®, Balloon Time®, Mag Torch®, Well-X-Trol®, General®, Garden-Weasel®, Pactool International® and Hawkeye™. Worthington’s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.
Headquartered in Columbus, Ohio, Worthington operates 50 facilities in 15 states and seven countries, sells into over 90 countries and employs approximately 8,000 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 practicing a shared commitment to transformation, Worthington makes better solutions possible for customers, employees, shareholders and communities.
Safe Harbor Statement
The Company wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act"). Statements by the Company 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 related to COVID-19 and the various actions taken in connection therewith, and risks described from time to time in the Company's filings with the Securities and Exchange Commission.