Worthington Steel, a unit of
), has achieved the "Partner-Level Supplier" recognition for 2012
in the John Deere achieving excellence program. It is the highest
supplier rating of
Deere & Company
). Worthington Steel has been chosen for the honor for the fifth
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Ohio-based Worthington Steel, which supplies hot-rolled and
cold-rolled cut-to-length steel sheets to John Deere, continues
to show its commitment in providing the best quality in terms of
services and continuous improvement to customers. Worthington
Steel has achieved the honor because of the exceptionally good
services rendered by its dedicated employees.
Worthington Industries, which belongs to the metal processing and
fabrication industry along with
Precision Castparts Corp.
), posted second-quarter fiscal 2013 earnings of 45 cents a
share, exceeding the year-ago earnings of 17 cents. Profits shot
up more than two-and-a-half fold year over year in the second
quarter to $31.8 million, on the back of a strong performance of
the company's pressure cylinder business.
Revenue climbed 10% year over year to $622.6 million. Higher
volumes aided by acquisitions boosted the top line in the
quarter. However, this was partly offset by lower average selling
prices due to the falling market price of steel.
Worthington Industries expects normal seasonality in its
traditional markets in the third quarter and envisions continued
strong performance in its cylinder operations. It will continue
to explore additional opportunities for growth both organically
and through new businesses.
Worthington Industries is engaged in processing steel for
application in the automotive, construction, hardware,
agricultural, aerospace and other industries. It makes a range of
processed steel items, pressure cylinders (including oxygen and
helium tanks and hand torches), metal framing products, racks,
shipping pallets, airbrake tanks and consumer products.
Worthington Industries operates 80 facilities throughout 12
Worthington Industries currently retains a short-term Zacks Rank