Worthington to close service center by May 31
Dec 11, 2013 | 05:14 PM
CHICAGO Worthington Industries Inc.s steel processing division will close its Baltimore service center by May 31, the company said in a filing with the U.S. Securities and Exchange Commission.
With the consolidation of the steel industry, many of the mills that previously supplied the Baltimore facility have closed, negatively impacting the supply chain there, the Columbus, Ohio-based company told employees Dec. 10. Worthington said it can more efficiently service Mid-Atlantic region customers from its other facilities and processing partners.
Worthington believes it will retain most of the existing business conducted out of Baltimore.
Production at Baltimore will gradually wind down over the coming months. Employees there will be able to apply for job openings at other Worthington branches. For employees who wont continue with the company, severance and outplacement services will be provided.
Worthington doesnt expect the net effect from the wind-down and closure of the Baltimore facility to have a material impact on operational results.