Worthington Industries has divided its Pressure Cylinders segment into three new segments: Consumer Products, Building Products and Sustainable Energy Solutions, effective 1st June (2021).
The three new reporting segments are in addition to its Steel Processing segment.
Commenting on the decision, Andy Rose, President and CEO of Worthington, said, “The new reporting structure is a natural evolution of our business strategy as we have aligned around several attractive markets over the last few years to reshape the business for increased earnings growth.”
“This change will enable our leadership teams to build and execute better, more focused strategies while providing increased transparency for investors. As we allocate capital to high return opportunities in these end markets, we will continue to leverage Transformation, Innovation and M&A to drive additional value.”
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