Worthington Industries (WOR) Acquires Tempel Steel Company for $255M
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Worthington Industries Acquires Tempel Steel Company
December 1, 2021 4:45 PM ESTCOLUMBUS, Ohio, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Worthington Industries, Inc. [NYSE: WOR] today announced that its Steel Processing segment has completed its acquisition of Tempel Steel Company, a leading global manufacturer of precision motor and transformer laminations for the electrical steel market that includes transformers, machine motors and electric vehicle (EV) motors. The purchase price was approximately $255 million and adds five manufacturing facilities located in Chicago, Canada, China, India and Mexico.
The addition of Tempel makes us a world leader in the rapidly growing electrical steel market that includes transformers, machine motors and electric vehicle motors, said... More
