Worthington Industries Announces Price Increase on Steel and Aluminum Cylinders, Heating and System Tanks
COLUMBUS, Ohio—August 2, 2021—Worthington Industries (NYSE:WOR) today announced a price increase on the following steel and aluminum cylinders effective on all new orders shipping on or after September 1, 2021, or as contracts allow. Prices will advance as follows:
Steel portable, industrial cutting gas, specialty chemical, and fire extinguisher cylinders, and 100-pound carbon steel tanks will advance 15 percent.
Aluminum portable and forklift cylinders will advance 10 percent.
Steel forklift cylinders will advance 7 percent.
Heating and system tanks will advance 7 percent.
Steel refillable and non-refillable cylinders for refrigerant, foam and adhesive products will advance 15 percent.
Rising costs of raw materials, tight labor market dynamics and general market conditions continue to impact manufacturing costs for the business.
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 53 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.