Worthington acquires Gibraltar's steel processing assets

Worthington Industries Inc., Columbus, Ohio, has announced that its steel processing business segment has acquired the steel processing assets of Gibraltar Industries Inc. The acquisition expands the capabilities of The Worthington Steel Co.'s cold-rolled strip business and its ability to service the needs of new and existing customers.

Worthington acquired Gibraltar's Cleveland facility with the added capabilities to roll wider and lighter-gauge material and to perform oscillate slitting. Also included in the transaction were the equipment and inventory of Gibraltar's Buffalo, N.Y., facility and a warehouse facility in Detroit.

Gibraltar plans to begin an orderly process of closing the Buffalo facility and working with Worthington Steel to coordinate customer accounts as they are transferred to Cleveland and Columbus.

Worthington also acquired a 31 percent interest in Samuel Steel Pickling, a joint venture with operations in Cleveland and Twinsburg, Ohio.