Worthington acquires majority share of TWB

Jul 31, 2013 | 02:16 PM | Corinna Petry

Tags  Worthington Industries, TWB Co., Tailor Welded Blanks, Wuhan Iron & Steel, joint venture, increased ownership stake, automotive industry, sales and earnings Corinna Petry

CHICAGO — Worthington Industries Inc. has acquired a majority share of TWB Co. LLC, its joint venture with Chinese steelmaker Wuhan Iron & Steel Co. that produces laser-welded blanks primarily for automotive applications.
Worthington acquired an additional 10 percent share in TWB, bringing its stake to 55 percent, which it had sought since Wuhan purchased ThyssenKrupp AG’s ownership in TWB last September. Terms of the agreement were not disclosed. ....

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