Worthington Industries Electrical Steel Lamination Business, Tempel Steel, Earns Dana’s Global Supplier Award in “Lead Electric Propulsion” Category

COLUMBUS, Ohio, July 20, 2023 (GLOBE NEWSWIRE) -- Worthington Industries, Inc., (NYSE: WOR), a leading industrial manufacturing company, today announced its Tempel Steel business, which manufactures high precision electrical steel laminations for motors and transformer cores used in electric vehicles (EV), charging stations, internal combustion engines, industrial equipment, and energy solutions, has earned a prestigious Global Supplier Award from Dana Incorporated (NYSE: DAN) as the top global supplier of the year for their Lead Electric Propulsion category. A global leader in drivetrain and e-propulsion systems, Dana annually honors select partners who demonstrate excellence in supporting Dana’s cost, quality, and delivery goals, as well as its “Powering into e-Drive” enterprise strategy. 

Worthington’s Tempel Steel is a lead partner supplying high-precision electrical steel laminations for rotors and stators for the high-voltage and low-voltage motors used in Dana’s electric vehicle platforms. As a worldwide supplier, the Company delivers electrical steel laminations for electric propulsion to Dana facilities in China, India, and other locations globally. Additional components of the strategic services Tempel provides to Dana include support for the company’s commercial truck and light passenger vehicle programs, as well as management of the key partnerships and supply chains.

“Our relationship with Tempel Steel has grown dramatically over the past five years, propelled by their industry-leading manufacturing process, unparalleled product quality, and a level of service they provide to Dana that’s truly unique in the industry,” said Kevin Williams, Vice President of the Electrification Purchasing at Dana. “Our collaboration is delivering exceptional innovation to the fast-evolving emobility market, helping build a sustainable future.”

“The global Tempel team worked exceedingly hard to support Dana and earn the company's 2022 Lead Electrification Award,” said Cliff Nastas, President, Tempel Steel. “This honor is a testament to the commitment, dedication, and strong partnership we build with our customers, and it challenges us to continue to be an innovator which consistently delivers superior-quality products and services around the world.”

Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions. Based in Maumee, Ohio, USA, the company reported sales of $10.2 billion in 2022 with 40,000 people in 31 countries across six continents. .

About Tempel Steel

Tempel Steel, a Worthington Industries company, is a global leader in the manufacturing of high precision electrical steel laminations for motors and transformers with manufacturing and distribution locations in the United States, Canada, China, Mexico, and India. Tempel is a partner of choice that provides global material sourcing, metallurgical analysis, advanced product design, prototyping and various value-added capabilities, such as core assembly, annealing, laser welding, bonding and blank and notching. Tempel Chennai provides high quality stator and motor stampings for use in Dana’s Electric Vehicle platforms.

About Worthington Industries

Worthington Industries (NYSE:WOR) is a leading industrial manufacturing company pursuing its vision to be the transformative partner to its customers, a positive force for its communities and earn exceptional returns for its shareholders. For over six decades, the Company has been delivering innovative solutions to customers spanning industries such as automotive, energy, retail and construction. Worthington is North America’s premier value-added steel processor and producer of laser welded solutions and electrical steel laminations that provide lightweighting, safety critical and emission reducing components to the mobility market. Through on-board fueling systems and gas containment solutions, Worthington serves the growing global hydrogen ecosystem. The Company’s focus on innovation and manufacturing expertise extends to market-leading consumer products in tools, outdoor living and celebrations categories, sold under brand names, Coleman^®, Bernzomatic^®, Balloon Time^®, Level5 Tools^®, Mag Torch^®, Well-X-Trol^®, General^®, Garden-Weasel^®, Pactool International^® and Hawkeye™; as well as market leading building products, including water systems, heating & cooling solutions, architectural and acoustical grid ceilings and metal framing and accessories.

Headquartered in Columbus, Ohio, Worthington operates 52 facilities in 15 states and nine countries, sells into over 90 countries and employs approximately 9,000 people. Founded in 1955, the Company follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Relentlessly finding new ways to drive progress and transform, Worthington is committed to providing better solutions for customers and bettering the communities where it operates by reducing waste, supporting community-based non-profits and developing the next generations of makers.

Safe Harbor Statement

Worthington Industries wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act"). Statements by Worthington Industries which are not historical information constitute "forward looking statements" within the meaning of the Act. All forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from those projected. Factors that could cause actual results to differ materially include risks, uncertainties and impacts described from

time to time in Worthington Industries’ filings with the Securities and Exchange Commission, including those related to COVID-19 and the various actions taken in connection therewith, which could also heighten other risks.

SONYA L. HIGGINBOTHAM

VP, CORPORATE COMMUNICATIONS AND BRAND MANAGEMENT

614.438.7391 |

MARCUS A. ROGIER

TREASURER AND INVESTOR RELATIONS OFFICER

614.840.4663 |

200 Old Wilson Bridge Rd. | Columbus, Ohio 43085