# Worthington Industries acquires Tempel Steel for $255 million

Worthington Industries has acquired global lamination manufacturer Tempel Steel for $255 million. Tempel operates five manufacturing sites and had revenues of $377 million in its most recent fiscal year.

- Type: Acquisition
- Announced: 2022-03-09
- Where: United States
- Value: $255.0M
- Status: completed
- Products: motor and transformer laminations of electrical steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Worthington Industries](https://endata.com/companies/3706.md) (acquirer)
- [Tempel Steel Company](https://endata.com/companies/58339.md) (target)

## Sources

- [magneticsmag.com](https://magneticsmag.com/worthington-industries-buys-tempel-steel-for-255-million/), 2022-03-09: "The addition of Tempel makes us a world leader in the rapidly growing electrical steel market that includes transformers, machine motors and electric vehicle motors."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.