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January 11, 2021

Worthington Industries Announces Price Increase on Steel, Aluminum Cylinders

COLUMBUS, Ohio—Jan. 11, 2021—Worthington Industries (NYSE:WOR) today announced a price increase on the following steel and aluminum cylinders effective on all new orders shipping on or after Feb. 1, 2021, or as contracts allow.
 
Prices on all fire extinguisher and suppression system cylinders, and specialty chemical cylinders will advance 15 percent.
 
Prices on all aluminum forklift cylinders and aluminum portable cylinders will advance 10 percent.
 
Prices on all steel heating and system tanks, including 100-, 200- and 420-pound tanks, all steel portable cylinders, steel forklift cylinders, steel industrial cutting gas cylinders, and all refrigerant refillable and recovery cylinders, sizes 30 to 1,000 pounds, will advance 8 percent.
 
“Steel prices and other operating expenses continue to rise, forcing us to make adjustments to offset these costs,” said Jimmy Bowes, general manager of the industrial products business for Worthington Industries. “We remain 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.