Worthington Steel Notches Growth After Kloeckner Acquisition

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

A major acquisition in the global metals-processing sector is proving fruitful for one of the biggest players in the U.S. market. It reflects a broader trend in recent mergers and acquisitions in the metals markets.

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Welcome to the Family

Worthington Steel Incorporated's acquisition of German-based Kloeckner & Company SE is paying off, with the U.S.-based metals processor reporting significantly higher sales and product shipments for its most recently completed quarter. Industrial Info Resources is tracking activity at 55 plants worldwide owned or co-owned by Worthington, including a major aluminum plant under construction in the U.S.

Worthington benefited from higher direct volumes and selling prices in its recently ended quarter. "Net sales in the quarter were $2.7 billion, up approximately $1.9 billion from the prior-year quarter, primarily due to the addition of Kloeckner," said Timothy Adams, the chief financial officer of Worthington, in a recent quarterly earnings-related conference call. "Total shipments were approximately 1.9 million tons," compared with 928,866 tons in the same period last year.

Kloeckner, which Worthington officially acquired in June, will continue to add to Worthington's output in the coming months. The now-subsidiary is nearing completion on its aluminum-processing plant in Columbus, Mississippi, which is designed to produce 150,000 metric tons per year of flat-rolled aluminum. The facility is located on the campus of Aluminum Dynamics LLC, a subsidiary of Steel Dynamics Incorporated with which Worthington partners on aluminum processing.

Kloeckner began construction on the project in the fourth quarter of 2025. Industrial Info Resources offers more information on the Columbus project in its Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases, where readers can find details--including construction schedules, investment values and necessary equipment--in a plant profile and project report.

Worthington expects to see stronger steel pricing and steel spreads in the near term amid tight supply in the U.S., where imports are down and lead times are being extended in many parts of the market.

By the Numbers

• 55: Operational or under-construction plants worldwide owned or co-owned by Worthington, as tracked by Industrial Info Resources
• About $1.9 billion: Worthington's increase in net sales compared with the same quarter last year
• More than 100: Operational plants owned or co-owned by Ryerson, as tracked by Industrial Info Resources

Mergers on the March

Worthington's Kloeckner acquisition is just the latest in a series of mergers and acquisitions across the global metals industry in recent years. In February, Ryerson Holding Corporation, a processor and distributor of industrial metals, completed its acquisition of Olympic Steel Incorporated, an operator of metal-service centers across the U.S.

Following the acquisition, Richard Marabito, the former chief executive officer of Olympic Steel and the current chief operating officer of Ryerson, noted "both of our organizations are ending historically high investment cycles, have established strong balance sheets, and are experiencing what we believe to be the inflection of a manufacturing demand cycle."

According to Industrial Info Resources data, Ryerson now owns more than 100 facilities across the U.S., the bulk of which are metal-service centers. While Ohio, a state long associated with the steel business, accounts for nine plants, which is the most of any state, Texas accounts for eight, while North Carolina and Georgia each account for six.

Readers can learn more about Ryerson's facilities from a detailed list of plant profiles.

For its most recently ended quarter, Ryerson reported net sales of roughly $2 billion, compared with $1.17 billion in the same period last year, and shipped 804,000 tons, a 60% increase.

Jim Claussen, the chief financial officer of Ryerson, said in a recent earnings call that his company does not expect any dramatic movement in the near term: "We expect that average selling prices will be flat to up by 2% [for the remainder of 2026], as we anticipate that carbon pricing will remain supported and offset recent corrections in stainless and aluminum prices."

Industrial Info Resources also offers a full list of reports for plants worldwide owned or co-owned by Worthington.

Key Takeaways

• Worthington's acquisition of Kloeckner is paying off, with the metals processor reporting higher sales and product shipments
• Ryerson also reported strong results following its acquisition of Olympic Steel.
• Worthington expects to see stronger steel pricing and steel spreads in the near term.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).