Worthington Steel acquires strip steel assets of Gibraltar

Worthington Industries Inc., Columbus, Ohio, announced today that its Steel Processing business segment has acquired the steel processing assets of Gibraltar Industries Inc., Buffalo, N.Y. The acquisition will expand the capabilities of the Worthington Steel Co.’s cold-rolled strip business and its ability to service the needs of new and existing customers. The acquisition is expected to be accretive in Worthington Industries’ fiscal year.  “This is an excellent growth opportunity for Steel Processing to add higher margin business, while enhancing our capacity to serve existing customers, and new customers in new markets,” said John McConnell, chairman and CEO of Worthington Industries.