Banner
Service Centers
Friday | 27 June, 2014 | 10:28 am

Automotive lightweighting among drivers of higher metal volume for Worthington

By Corinna Petry

WORTHINGTONJune 27, 2014 - Direct volumes for Worthington Industries Inc.’s core steel processing operations “are now approaching pre-recession levels, volumes that we have not seen since the fourth quarter of our fiscal 2008,” President and Chief Operating Officer Mark A. Russel reported in an earnings call June 26.

Companywide revenues in the fourth quarter ended May 31 jumped 26.5 percent, with steel processing’s shipment volume rising 20 percent--not including operations of Tailor Welded Blanks. With TWB, steel processing volume jumped 35 percent to 949,000 tons, compared with the same three months of last year. Operating profits were basically flat year over year. 

Steel shipments “outpaced the Metals Service Center Institute’s increase of 5 percent for the total market and provides further evidence that we are gaining share,” said Russell. “Our volumes compared to last quarter improved significantly in several markets including Tier 1 auto which was up 30 percent, automotive OEM, which was up 19 percent, and agriculture [equipment], up 14 percent.

“Other markets show smaller but still significant increases including heavy truck, which was up 7 percent, and construction, which was up 4 percent.”

Looking ahead, “Shipments for new programs and new customers should continue to positively impact these numbers going forward as several customers are still in the process of transitioning volume to us from their current suppliers,” Russell continued.

Worthington’s Tailored Welded Blanks joint venture with Wuhan Iron & Steel continues to “take advantage of the automotive lightweighting trend as OEMs continue to increase the number of parts design with our tailor-welded blanks.” Lightweighting is also driving greater demand for tailor-welded coil technology.

TWB recently started up North America’s first dedicated aluminum tailor-welded blank production line using cutting edge friction stir welding technology rather than lasers.

Both the joint venture Worthington has with U.S. Steel Corp. and its joint venture with Wuhan process aluminum. TWB can weld two dissimilar pieces of aluminum—which “we’re doing with the friction stir welding because of the metallurgical properties of the aluminum,” Russell explained. “That’s a neat capability and gives us the ability to be pretty much agnostic about which material an automaker uses. If it’s aluminum, we will process that or if it’s steel, we will process that.”

For the 12 months ended May 31, Worthington’s steel processing net sales steel processing net sales $1.93 billion, up 32.4 percent from the prior fiscal year. Volume for the year topped 3.28 million tons, up 23.4 percent from 2.66 million tons in fiscal 2013. 

Current Issue

MM-Cover-10-14-current

October 2014

ON THE COVER: 
Gearing up for 2015
Tackling foreign policies, regulations, trade balances and capital plans, here are forecasts for virtually everything.

MM-Digital-button-current1

Subscribe: PRINT/DIGITAL MAGAZINE - eNEWSLETTERS

Midwest-MM-home-ad-5

Advertisement

Modern Metals on Twitter

White Papers

More White Papers >
Banner

Industry Partners

Alloy Bar Products

Custom Rubber Products

Metals Distribution

Service Centers

Sierra Alloys Royal Rubber Co. ThyssenKruppnMaterials NA Heidtman Steel Products

Aluminum

Cutting Software

Perforated & Expanded Metal

North American Steel Alliance
Channel Alloys SigmaTEK Systems McNichols Co. Reliance Steel & Aluminum Company

Bar

Cutting Systems

Plasma Technology

Thickness Gauges

Gerdau Messer Cutting Systems, Inc. ESAB Welding & Cutting Products Compusource Corporation

Bevelers

Drilling

Plate

Enmark Systems, Inc.
Steelmax Hougen Manufacturing, Inc. Allor Manufacturing Inc.

Stainless Steel

CNC Cutting (Plasma, Waterjet, Laser, Router)

Financial Services

Artco Group Stainless Sales Corp.
Multicam Inc. BMO Harris Bank Churchill Steel Plate Ltd Straub Metal International

Coated Coil

GE Capital Finance Ranger Steel

Stainless, Nickel, Aluminum, Pipe, Tube & Bar

American Nickeloid Metals

Investment Banking

Precision Grinding

Prudential Stainless & Alloys, L.P.
Centria Coating Services Brown Gibbons Lang & Company Joco Precision Grinding

Steel

Metal Coaters

Laser Technology

Profiling Software

ArcelorMittal

Coil Processing

AltaMAR, Inc. FastCam Pty Ltd. Central Steel Service, Inc.
Bradbury Group Amada America, Inc.

Rolled and Extruded Aluminum Products

Parker Steel Co.
Braner USA LVD Strippit Aleris Rolled Products SSAB
Burghardt + Schmidt GmbH Mitsubishi Laser-MC Machinery Systems, Inc.

Sawing Technology

Summit Steel Corporation
Butech Bliss

Machining Centers

Behringer Saws, Inc.

Steel Fabrication

Formtek-Maine Handtmann CNC Cosen International, Inc. Voortman Corporation
Herr-Voss Stamco

Material Handling

Cut Technologies Metal

Titanium

IMS Systems, Inc. Canrack Metal Center Systems DoALL Sawing Products TSI Titanium
Leveltek Samuel Strapping Systems HE&M Saw

Tooling

Machine Concepts Steel Storage Systems Inc. Kasto Carlson Tool & Manufacturing Corp.
Red Bud Industries The Caldwell Group, Inc. Metlsaw Systems

Tube & Pipe

Tishken

Metal Alloy Analysis & Verification

Sawblade.com Independence Tube Corp.

Copper & Brass

Thermo Scientific Niton Analyzers Scotchman Industries, Inc. National Tube Supply Company
Christy Metals Inc.

Metal Finishing & Deburring

Wikus Saw Technology Specialty Pipe & Tube
Farmer's Copper Supermax Tools

 

Turnkey Finishing System

 

 

 

Intellifinishing

 

 

 

Waterjet

 

 

 

TECHNI Waterjet

TrendPublishing

twitter facebook linkedin rss

 

FFJ-1114-brandingcovers