Worthington Finalizes Steel Processing Joint Venture in China

Worthington Finalizes Steel Processing Joint Venture in China 
COLUMBUS, OH -- (Marketwired) -- 10/18/13 --  Worthington Industries,
Inc. (NYSE: WOR) announced today it has finalized its agreement with
Nisshin Steel Co., Ltd. (Nisshin) and Marubeni-Itochu Steel Inc.
(MISI) forming a joint venture called Zhejiang Nisshin Worthington
Precision Specialty Steel Co., Ltd. Located near Shanghai, China, the
joint venture will produce cold rolled strip steel primarily for the
automotive industry. Worthington owns a 10 percent stake in the joint
venture with the option to increase ownership and Japanese partners
Nisshin and MISI own 55 and 35 percent respectively.  
The facility will be located in Pinghu City, Zhejiang, China,
approximately 45 miles outside of Shanghai. Construction is expected
to begin immediately following government approval with production
expected to begin in the fourth quarter of 2015. 
About Nisshin Steel Co., Ltd. (Nisshin)
 Nisshin, formed in 1959, is
a Japanese integrated steelmaker specializing in light-gauge sheet
products. The company has a long history and superior technical
expertise in the field of surface-treated products. Nisshin is a
leading manufacturer of coated steel, cold rolled special steel strip
and cold rolled stainless steel with locations in Asia and North
America. 
About Marubeni-Itochu Steel Inc. (MISI)
 MISI, formed in 2001 as a
50/50 joint venture between Japanese general trading companies ITOCHU
Corporation and Marubeni Corporation, is a leading iron and steel
company set up as a general producer geared to iron and steel
distribution in the modern era. It integrates information,
distribution, finance and human resources using a global network that
combines the capabilities of its two parent companies. MISI, and its
subsidiaries, have more than 100 offices both within and outside
Japan. MISI currently partners with Worthington Industries in the
Clarkwestern Dietrich Building Systems joint venture. 
About Worthington Industries
 Worthington Industries is a leading
diversified metals manufacturing company with 2013 fiscal year sales
of $2.6 billion. The Columbus, Ohio based company is North America's
premier value-added steel processor and a leader in manufactured
metal products, such as propane, oxygen, ref
rigerant and industrial
cylinders, hand torches, camping cylinders, scuba tanks, compressed
natural gas storage cylinders, helium balloon kits and exploration,
recovery and production tanks for global energy markets;
custom-engineered open and enclosed cabs and operator stations for
heavy mobile equipment; laser welded blanks; steel pallets and racks;
and through joint ventures, suspension grid systems for concealed and
lay-in panel ceilings, current and past model automotive service
stampings and light gauge steel framing for commercial and
residential construction. Worthington employs approximately 10,000
people and operates 82 facilities in 11 countries. 
Safe Harbor Statement
 The company wishes to take advantage of the
Safe Harbor provisions included in the Private Securities Litigation
Reform Act of 1995 ("the Act"). Statements by the company which are
not historical information constitute "forward looking statements"
within the meaning of the Act. All forward-looking statements are
subject to risks and uncertainties which could cause actual results
to differ from those projected. Factors that could cause actual
results to differ materially include risks described from time to
time in the company's filings with the Securities and Exchange
Commission. 
CONTACTS:
Cathy M. Lyttle
VP, Corporate Communications and Investor Relations
Phone: (614) 438-3077
E-mail: Cathy.Lyttle@WorthingtonIndustries.com  
Sonya L. Higginbotham
Director, Corporate Communications
Phone: (614) 438-7391
E-mail: Sonya.Higginbotham@WorthingtonIndustries.com 
 
 
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