Item 8.01. Other Events.

On December 31, 2019, Worthington Industries, Inc. (the "Company") acquired a majority ownership of the Samuel Steel Pickling Company, a joint venture the Company has had with Samuel, Son & Co. since 2010.

The transaction includes contributing the Company's recently acquired Heidtman Cleveland facility to the joint venture, which also has facilities in Cleveland and Twinsburg, OH. The joint venture will now be called Worthington Samuel Coil Processing LLC and its earnings will be consolidated into the Company's Steel Processing business unit. The Company now has a 63 percent interest in the joint venture, and Samuel, Son & Co. holds a 37 percent interest.

The joint venture will now include approximately 170 employees working at three facilities in northern Ohio, including one in Twinsburg and two located in the greater Cleveland area.

Item 9.01. Financial Statements and Exhibits.

(a) through (c): Not applicable.

(d) Exhibits:

The following exhibit is included with this Current Report on Form 8­K:



Exhibit No.    Description

99.1            News Release issued by Worthington Industries, Inc. on January 6,
              2020 ("Worthington Industries Acquires a Majority Ownership of Samuel
              Steel Pickling Company")
104           Cover Page Interactive Data File (embedded within the Inline XBRL
              document)

© Edgar Online, source Glimpses