Worthington Enterprises completes separation from Worthington Steel

Worthington Enterprises separated from its steel processing business, now Worthington Steel, in December 2023. The spin-off was driven by differing capital allocation needs and capital intensity between the two businesses, allowing each to pursue independent strategies.

“And the reason that we ultimately decided to separate the businesses was that the Board concluded that the businesses, steel processing, which was our old sister business, it’s now Worthington Steel, and Worthington Enterprises were big enough and successful enough to thrive on their own.”

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