Increased hedging helps Worthington mitigate risk

Jan 07, 2013 | 03:45 PM | Corinna Petry

Tags  Worthington Industries, long-term, contracts, hedging, Spartan Steel Coating, Severstal North America, ThyssenKrupp, Tailor Welded Blanks John McConnell

CHICAGO — Worthington Industries Inc. is managing steel spot market risk by securing long-term supply contracts with customers, performing more value-added services and hedging steel futures more proficiently, executives said during a quarterly conference call with analysts.

"The economy is on somewhat more solid ground than the suspended uncertainty (of) last quarter," chairman and chief executive officer John McConnell said, adding that he expects many segments of the economy to grow moderately this year. "The election is behind us ... and some action has been taken towards resolving our debt crisis."....

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