Worthington Names Vice President of Mergers & Acquisitions
April 14 2014 - 4:30PM
Marketwired
Worthington Names Vice President of Mergers & Acquisitions
COLUMBUS, OH--(Marketwired - Apr 14, 2014) - Worthington
Industries, Inc. (NYSE: WOR) today announced that Joe Hayek has
joined the Company as vice president of mergers & acquisitions
(M&A) and corporate development, a newly created position
focused on identifying and acquiring new businesses.
"Joe brings a great deal of experience to this new role; he will
be an excellent addition to our management team," said Worthington
Industries CFO Andy Rose. "He will provide focused leadership,
accelerating our efforts to identify new, high value-added
manufacturing businesses as we seek to raise our margins, diversify
end-markets and accelerate growth."
Hayek spent 10 years as an investment banker at Wells Fargo
Securities and Raymond James providing M&A advice and capital
raising services to mid-market companies in the U.S. He completed
roughly 75 transactions over 10 years and was responsible for all
aspects of deal sourcing, execution and documentation. Beginning in
2008, he was executive vice president for PCM Inc., an IT solutions
provider, where he was responsible for developing and executing
their M&A strategy. In 2012, he was named president of SARCOM,
PCM's largest division.
Worthington Industries is a leading diversified metals
manufacturing company with 2013 fiscal year sales of $2.6 billion.
The Columbus, Ohio based company is North America's premier
value-added steel processor and a leader in manufactured metal
products, such as propane, oxygen, refrigerant and industrial
cylinders, hand torches, camping cylinders, scuba tanks, compressed
natural gas storage cylinders, helium balloon kits and exploration,
recovery and production tanks for global energy markets;
custom-engineered open and enclosed cabs and operator stations for
heavy mobile equipment; laser welded blanks; steel pallets and
racks; and through joint ventures, suspension grid systems for
concealed and lay-in panel ceilings, current and past model
automotive service stampings and light gauge steel framing for
commercial and residential construction. Worthington employs
approximately 10,000 people and operates 81 facilities in 10
countries.
Founded in 1955, the Company operates under a long-standing
corporate philosophy rooted in the golden rule. Earning money for
its shareholders is the first corporate goal. This philosophy
serves as an unwavering commitment to the customer, supplier, and
shareholder, and it serves as the Company's foundation for one of
the strongest employee-employer partnerships in American
industry.
Safe Harbor Statement
The company wishes to take advantage of the Safe Harbor
provisions included in the Private Securities Litigation Reform Act
of 1995 ("the Act"). Statements by the Company 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 described from time to
time in the Company's filings with the Securities and Exchange
Commission.
CONTACTS: Cathy M. Lyttle VP, Corporate Communications and
Investor Relations Phone: (614) 438-3077 E-mail: Email Contact
Sonya L. Higginbotham Director, Corporate Communications Phone:
(614) 438-7391 E-mail: Email Contact
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