Worthington Industries Announces Price Increase on Steel Portable and Forklift Cylinders
COLUMBUS, Ohio—Dec. 1, 2020—Worthington Industries (NYSE:WOR) today announced a price increase on steel cylinders including all steel portable and forklift cylinders. Prices will advance 8 percent effective on all orders shipping on or after Jan. 1, 2021, or as contracts allow.
“Rising raw material costs and operating expenses, as well as additional costs associated with the COVID-19 pandemic, have forced us to make adjustments to offset these inflationary pressures,” said Jimmy Bowes, general manager of the industrial products business for Worthington Industries. “As an essential U.S.-based manufacturer of these critical products, we are focused on meeting the needs of our customers and our country while balancing the demands of the pandemic and the safety of our employees.”
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® and Well-X-Trol®. Worthington’s WAVE joint venture with Armstrong is the North American leader in innovative ceiling solutions.
Headquartered in Columbus, Ohio, Worthington operates 51 facilities in 15 states and six countries, sells into over 90 countries and employs approximately 7,500 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.