Worthington Industries

Last updated
Worthington Industries, Inc.
Type Public company
S&P 400 component
Industry Steel Processing
Metal fabrication
Founded1955;67 years ago (1955)in Columbus, Ohio
Founder John H. McConnell
Number of locations
51 facilities
Area served
Key people
Andy Rose, President & CEO
John P. McConnell, Executive Chairman
Geoff Gilmore, Executive Vice President & COO
Joseph B. Hayek, Vice President & CFO
ProductsSteel Processing, Pressure Cylinders, Industrial Components, Retail Products, Propane Cylinders
BrandsBalloon Time, Bernzomatic, Coleman
RevenueIncrease2.svg $3.759 billion (FY 2019)
Decrease2.svg $153 million (FY 2019)
Total assets Decrease2.svg $2.510 billion (FY 2019)
Total equity Decrease2.svg $948 million (FY 2019)
Number of employees
7,500 (2021)
Website worthingtonindustries.com
Footnotes /references

Worthington Industries, Inc. is a global diversified metals manufacturing company based in Columbus, Ohio. It is a steel processor and manufacturer of pressure vessels, such as propane, oxygen and helium tanks, hand torches, refrigerant and industrial cylinders, camping cylinders, exploration, recovery and production products for global energy markets; water system tanks for storage, treatment, heating, expansion and flow control, and compressed natural gas storage cylinders. The company also manufactures framing systems for mid-rise buildings and steel pallets and racks for shipping. It is the largest independent processor of flat-rolled steel in the United States. The company takes steel from steel producers and processes it for customers in industries including automotive, lawn and garden, construction, hardware, office furniture, electrical control, leisure and recreation, appliance, agriculture and HVAC. [1]


The company's pressure vessels business, founded in 1971, includes the manufacture of Propane cylinders used for gas grills; refrigerant cylinders used for air conditioning systems; tanks for storage in water treatment, heating, expansion and flow control; high-pressure cylinders for industrial gases; air tanks used for diving; self-contained breathing apparatus for firefighters and others; compressed gas tanks for hand torches; compressed natural gas (CNG) storage tanks for the alternative fuels market; liquid nitrogen containers for the life sciences, health care and animal husbandry markets; cylinders for transporting and storing high pressure hydrogen gas; and consumer products such as helium gas balloon kits. Cylinders and tanks are made from welded or seamless steel, from aluminum, or from fiber composite materials.

Worthington Industries is the only manufacturer of disposable 1lb propane cylinders in North America. The 16.1 oz. cylinders are sold under a variety of brand names including Worthington, Bernzomatic, and Coleman. These cylinders are commonly used by consumers for soldering, brazing, and welding, and to fuel cooking appliances like camp stoves and portable BBQs used in recreational settings like campgrounds, parks, and stadium parking lots.

Joint ventures


Worthington Industries was founded in 1955 by John H. McConnell, a steel salesman. McConnell saw an opportunity for custom-processed steel and purchased his first load of steel by borrowing $600 against his 1952 Oldsmobile. He founded the company in Columbus, Ohio, where it is still headquartered.

In his first year of business, McConnell grossed $342,000; his profit was $11,000. Throughout the late 1950s and 1960s, he continued to add processing facilities. In 1966, he started sharing his profits with the people he worked with. In 1968, Worthington Industries made its first public stock offering of 150,000 shares at $7.50 per share. Throughout the 1980s, the company continued to expand rapidly. [2]

In 1996, John McConnell's son, John P. McConnell, took over as chairman and CEO. He had worked for the company for more than 20 years, having started as a general laborer and later advancing to sales, operations and personnel. [2]

In 2000, Worthington Industries moved to the New York Stock Exchange. [2] [3]

In June 2017, the company acquired Amtrol for $283 million. [4] Amtrol produces pressure cylinders and water system components, and is the largest provider of expansion tanks to the plumbing and HVAC markets in the United States,

In September 2020, former company President Andy Rose was named Worthington Industries' President & CEO, succeeding long-time Chairman and CEO John P. McConnell.

In January 2021, the company made two acquisitions. The first was the acquisition of German valve and component company PTEC Pressure Technology GmbH. The second was the acquisition of General Tools & Instruments Company LLC (General Tools), a provider of over 1,200 feature-rich, specialized tools, primarily for measuring and marking, found in supply houses, home centers, and hardware stores worldwide.

Related Research Articles

<span class="mw-page-title-main">Hydrostatic test</span> Non-destructive test of pressure vessels

A hydrostatic test is a way in which pressure vessels such as pipelines, plumbing, gas cylinders, boilers and fuel tanks can be tested for strength and leaks. The test involves filling the vessel or pipe system with a liquid, usually water, which may be dyed to aid in visual leak detection, and pressurization of the vessel to the specified test pressure. Pressure tightness can be tested by shutting off the supply valve and observing whether there is a pressure loss. The location of a leak can be visually identified more easily if the water contains a colorant. Strength is usually tested by measuring permanent deformation of the container. Hydrostatic testing is the most common method employed for testing pipes and pressure vessels. Using this test helps maintain safety standards and durability of a vessel over time. Newly manufactured pieces are initially qualified using the hydrostatic test. They are then revalidated at regular intervals according to the relevant standard. In some cases where a hydrostatic test is not practicable a pneumatic pressure test may be an acceptable alternative. Testing of pressure vessels for transport and storage of gases is very important because such containers can explode if they fail under pressure.

<span class="mw-page-title-main">Pressure vessel</span> Vessel for pressurised gases or liquids

A pressure vessel is a container designed to hold gases or liquids at a pressure substantially different from the ambient pressure.

<span class="mw-page-title-main">Gas cylinder</span> Cylindrical container for storing pressurised gas

A gas cylinder is a pressure vessel for storage and containment of gases at above atmospheric pressure. High-pressure gas cylinders are also called bottles. Inside the cylinder the stored contents may be in a state of compressed gas, vapor over liquid, supercritical fluid, or dissolved in a substrate material, depending on the physical characteristics of the contents. A typical gas cylinder design is elongated, standing upright on a flattened bottom end, with the valve and fitting at the top for connecting to the receiving apparatus.

<span class="mw-page-title-main">Sheet metal</span> Metal formed into thin, flat pieces

Sheet metal is metal formed into thin, flat pieces, usually by an industrial process. Sheet metal is one of the fundamental forms used in metalworking, and it can be cut and bent into a variety of shapes.

<span class="mw-page-title-main">Linde plc</span> Largest global industrial gas producer

Linde plc is a global multinational chemical company founded in Germany and, since 2018, domiciled in Ireland and headquartered in the United Kingdom. Linde is the world's largest industrial gas company by market share and revenue. It serves customers in the healthcare, petroleum refining, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, material handling equipment (MHE), chemicals, electronics and water treatment industries. The company's primary business is the manufacturing and distribution of atmospheric gases, including oxygen, nitrogen, argon, rare gases, and process gases, including carbon dioxide, helium, hydrogen, ammonia, electronic gases, specialty gases, and acetylene.

<span class="mw-page-title-main">Machine Sazi Arak</span>

Machine Sazi Arak (MSA) is an Iranian industrial machinery and equipment manufacturing corporation that was established in 1967 in an area of 134 hectares in the city of Arak in order to support underlying industries and meet the industrial needs of the country.

<span class="mw-page-title-main">John H. McConnell</span>

John Henderson McConnell was the founder of Worthington Industries, which manufactures processed steel products, pressure cylinders, and metal framing. He was the founder, majority owner, chairman, and governor of the Columbus Blue Jackets NHL team. In addition, McConnell was a part of the ownership group of the AFL's Columbus Destroyers, an early investor in the MLS' Columbus Crew, and minority owner of the Pittsburgh Pirates.

<span class="mw-page-title-main">Industrial gas</span> Gaseous materials produced for use in industry

Industrial gases are the gaseous materials that are manufactured for use in industry. The principal gases provided are nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium and acetylene, although many other gases and mixtures are also available in gas cylinders. The industry producing these gases is also known as industrial gas, which is seen as also encompassing the supply of equipment and technology to produce and use the gases. Their production is a part of the wider chemical Industry.

<span class="mw-page-title-main">Icemaker</span>

An icemaker, ice generator, or ice machine may refer to either a consumer device for making ice, found inside a home freezer; a stand-alone appliance for making ice, or an industrial machine for making ice on a large scale. The term "ice machine" usually refers to the stand-alone appliance.

<span class="mw-page-title-main">Pipe (fluid conveyance)</span> Tubular section or hollow cylinder

A pipe is a tubular section or hollow cylinder, usually but not necessarily of circular cross-section, used mainly to convey substances which can flow — liquids and gases (fluids), slurries, powders and masses of small solids. It can also be used for structural applications; hollow pipe is far stiffer per unit weight than solid members.

<span class="mw-page-title-main">Calor Gas</span> Brand of bottled butane and propane which is available in Britain and Ireland

Calor is a brand of bottled butane and propane which is available in Britain and Ireland. It comes in cylinders, which have a special gas regulator.

<span class="mw-page-title-main">Stamping (metalworking)</span> Forming metal sheets with a stamping press

Stamping is the process of placing flat sheet metal in either blank or coil form into a stamping press where a tool and die surface forms the metal into a net shape. Stamping includes a variety of sheet-metal forming manufacturing processes, such as punching using a machine press or stamping press, blanking, embossing, bending, flanging, and coining. This could be a single stage operation where every stroke of the press produces the desired form on the sheet metal part, or could occur through a series of stages. The process is usually carried out on sheet metal, but can also be used on other materials, such as polystyrene. Progressive dies are commonly fed from a coil of steel, coil reel for unwinding of coil to a straightener to level the coil and then into a feeder which advances the material into the press and die at a predetermined feed length. Depending on part complexity, the number of stations in the die can be determined.

Vallourec S.A. is a multinational manufacturing company headquartered in Meudon, France. Vallourec specializes in hot rolled seamless steel tubes, expandable tubular technology, automotive parts, and stainless steel, which it provides to energy, construction, automotive, and mechanical industries. Vallourec shares are listed on NYSE Euronext.

Sumitomo Electric Industries, Ltd. is a manufacturer of electric wire and optical fiber cables. Its headquarters are in Chūō-ku, Osaka, Japan. The company's shares are listed in the first section of the Tokyo, Nagoya Stock Exchanges, and the Fukuoka Stock Exchange. In the period ending March 2021, the company reported consolidated sales of US$26,5 billion.

Exide Industries Ltd, is an Indian multinational storage battery manufacturer and life insurance company, headquartered in Kolkata. It is the largest manufacturer of automotive and industrial lead-acid batteries in India and fourth largest in the world. It has plants in India and Sri Lanka and dealership network in 46 countries spanning 5 continents. Exide also has four major lead-acid battery recycling facilities — two of which are in the United States, and Spain and Portugal each have one as well. The company claims that 99 percent of lead processed through these facilities is recycled.

Benteler International AG (BENTELER) is a holding company in German family ownership. The Group companies operate worldwide in the fields of automotive technology, steel and tube production and engineering. The headquarters of Benteler International AG is in Salzburg (Austria), as of 2010. The owner is the Benteler family.

<span class="mw-page-title-main">Oxy-fuel welding and cutting</span> Metalworking technique using a gaseous fuel and oxygen

Oxy-fuel welding and oxy-fuel cutting are processes that use fuel gases and oxygen to weld or cut metals. French engineers Edmond Fouché and Charles Picard became the first to develop oxygen-acetylene welding in 1903. Pure oxygen, instead of air, is used to increase the flame temperature to allow localized melting of the workpiece material in a room environment. A common propane/air flame burns at about 2,250 K, a propane/oxygen flame burns at about 2,526 K, an oxyhydrogen flame burns at 3,073 K and an acetylene/oxygen flame burns at about 3,773 K.

The ROTAREX Group is a privately owned Luxembourgish group of companies who develop and manufacture high pressure valves, tube fittings and pressure regulators for almost all types of gas, in almost all application fields. Founded in 1922 under the name CEODEUX in Lintgen, Luxembourg, ROTAREX currently employs approximately 1500 people and is present on all continents with a broad range of products.

<span class="mw-page-title-main">Cameron International</span> American oilfield services company

Cameron International Corporation though now operating under Schlumberger, is a global provider of pressure control, production, processing, and flow control systems as well as project management and aftermarket services for the oil and gas and process industries. Cameron was acquired by Schlumberger (SLB) in 2016, and now operates as 'Cameron, a Schlumberger Company.' At the start of the SLB acquisition in 2015, Cameron employed approximately 23,000 people and delivered $9.8 billion in revenue.

<span class="mw-page-title-main">A. O. Smith</span>

A. O. Smith Corporation is an American manufacturer of both residential and commercial water heaters and boilers and the largest manufacturer and marketer of water heaters in North America. It also supplies water treatment products in the Asian market. The company has 24 locations worldwide, including five manufacturing facilities in North America, as well as plants in Bengaluru in India, Nanjing in China and Veldhoven in The Netherlands.


  1. 1 2 "Worthington Industries, Inc. Form 10-K Annual Report for the Fiscal Year Ended May 31, 2019". U.S. Securities and Exchange Commission.
  2. 1 2 3 "Our Story". Worthington Industries.
  3. McConnell, Kitty (November 1, 2015). "Q&A: John P. McConnell, Chairman and CEO of Worthington Industries". The Columbus Dispatch .
  4. Knox, Tom (June 2, 2017). "Worthington Industries makes biggest acquisition in company history". American City Business Journals .