Magnetics Business & Technology - September/October 2022 - 28

INDUSTRY NEWS
Worthington Industries Buys Tempel Steel for $255 Million
Electrical steel is an iron alloy tailored to use the ferromagnetic
properties of iron to produce specific magnetic properties important
for motors, transformers and generators by magnifying the
magnetic effects of current-carrying coils. Key attributes are low
power loss per cycle, low core loss and high permeability.
Targeting the growing electric vehicle market and electrification
market trends, Worthington Industries has bolstered its steel
processing business with the acquisition of global lamination
manufacturer Tempel Steel for $255 million. Tempel makes motor
and transformer laminations of electrical steel, tailored for its
ability to amplify their magnetic performance.
It operates five manufacturing sites located in Chicago, Canada,
China, India and Mexico, and has about 1,500 employees.
Revenues were $377 million in its most recent fiscal year ended
September 30, with $35 million in profit.
Andy Rose, CEO
of Worthington
Industries
" 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, " said
Andy Rose, president and CEO. " Tempel
expands our sustainable mobility offerings
beyond lightweighting and hydrogen to more
widely serve the global market for hybrids,
EVs and the electricity infrastructure needed
to support them. " Plans call for it to become
part of the Steel Processing segment of
Worthington. Headquartered in Columbus,
Ohio, Worthington is a diversified industrial
manufacturer with about $3.6 billion annual
sales.
Founded in 1945, Tempel has served the automotive industry for
decades in applications such as electric power steering, antilock
braking systems, engine cooling as well as fuel, oil and water
pumps. Well known for being one of the automotive industry's
leading lamination suppliers, Tempel has supplied the electrical
steel laminations for many OEM and Tier 1 light passenger
and commercial vehicle hybrid and applications. Among recent
investments to serve the EV market are an automotive focus
factory at its site in Changzhou, China and opening a hybrid/EV
focus factory in Mexico in 2019.
Tempel's factory in Monterrey, Mexico
Tempel will significantly enhance Worthington's existing automotive
offerings, says the company. Among its diverse lines of
business, Worthington is a value-added steel processor and
producer of laser welded solutions that provide lightweighting
and safety-critical components to the mobility market. Through
on-board fueling systems and gas containment solutions, it also
serves the growing global hydrogen ecosystem. Worthington
operates 53 facilities in seven countries and employs about
8,000 people.
EV auto lamination from Tempel
28 Magnetics Business & Technology * September/October 2022
For more info, see www.worthingtonindustries.com and www.
tempel.com.
www.MagneticsMag.com
http://www.worthingtoindustries.com http://www.tempel.com http://www.tempel.com http://www.MagneticsMag.com
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