Worthington Acquires Blanklight from Shiloh
By Metal Center News Staff
on Jun 9, 2021
Worthington Industries Inc., Columbus, Ohio, has acquired certain assets of Shiloh Industries’ U.S. BlankLight business. Blanklight is a provider of laser-welded solutions that deliver material savings, weight and cost reductions and increased fuel efficiency to the mobility market, the company claims.
The acquisition expands the capacity and capabilities of Worthington’s laser-welded products joint venture, TWB Company, LLC, with the addition of three facilities and adds a blanking facility to its Steel Processing business.
“The demand for tailor-welded blanks and lightweighting technology is growing and the acquisition of these Shiloh assets allows us to support that growth while adding new capabilities,” said Worthington Industries Executive Vice President and COO Geoff Gilmore. “Shiloh’s BlankLight expertise in curvilinear and aluminum-welded blanks adds to TWB’s wide range of tailor-welded products, creating more value and innovation for our customers
The transaction adds approximately 200 employees and four facilities located in Bowling Green, Ky., Canton, Mich. and two in Valley City, Ohio. TWB will operate the laser-welded blank facilities in Ohio and Michigan. The Kentucky facility will operate under Worthington’s Steel Processing business, expanding the blanking services currently provided from its Monroe, Ohio and Porter, Ind. facilities.
“It also broadens our relationships with key automotive customers and expands the geographic reach of our Steel Processing business through an additional blanking operation,” Gilmore said.
The purchase price was approximately $105 million, subject to closing adjustments.