Press Release

Source: Worthington Industries, Inc. Companies:Worthington Industries, Inc.COLUMBUS, Ohio

(BUSINESS WIRE)--Worthington Industries, Inc. (NYSE:WOR - News) announced today that its metal framing business has formed a strategic alliance with Bailey Metal Products Limited that includes the sale of its Dietrich Canada subsidiary to Bailey. The agreement, effective immediately, between the companies names Bailey the exclusive distributor of Dietrich’s proprietary and vinyl products in Canada. Bailey will license its paper faced metal corner bead product to Dietrich to manufacture and sell in most of the United States.

“The alliance with Bailey will allow us to focus our sales efforts on the U.S. market while broadening our product reach in Canada,” said John Roberts, president of Dietrich Metal Framing. “We look forward to utilizing our existing facilities and distribution channels to benefit both companies.”

Angelo Sarracini, president of Bailey Metal Products Limited stated, “We believe this exciting alliance between Bailey and Dietrich will translate into improved customer value and enhance the development of metal framing in North American construction markets.”

The sale of Dietrich Canada includes two manufacturing facilities located in Burnaby, British Columbia and Mississauga, Ontario and two sales and distribution centers located in LaSalle, Quebec and Edmonton, Alberta, employing 61 people in total.

The distribution agreement gives Bailey exclusive distribution in Canada of Dietrich’s proprietary products including all clips, slotted track, TradeReady® and vinyl products, including stucco & plaster, drywall veneer and EIFS & DEFS accessories. Dietrich will hold the license to manufacture and sell Bailey’s paper faced metal corner bead product line in most of the United States.

About Dietrich Metal Framing

Dietrich Metal Framing is the largest manufacturer of steel framing products in the United States. Dietrich’s employees use state-of-the-art equipment and in-house metallurgic labs to ensure superior product performance and competitive prices. Dietrich Metal Framing, founded in 1959, is a Worthington Industries Company.

About Worthington Industries

Worthington Industries is a leading diversified metal processing company with annual sales of approximately $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 light gauge steel framing for commercial and residential construction; framing systems and stairs for mid-rise buildings; pressure cylinder products such as propane, oxygen and helium tanks, hand torches, camping cylinders, and scuba tanks; current and past model automotive service stampings; metal ceiling grid systems; steel pallets and racks; and laser welded blanks. Worthington employs approximately 6,400 people and operates 63 facilities in 10 countries.

About Bailey Metal Products Limited

Bailey Metal Products is the largest manufacturer of steel framing products in Canada, manufacturing and distributing a complete line of wall, floor and roof assemblies. In addition to its metal framing operations, the company operates three steel service centers which support its core manufacturing. Bailey is a family controlled business with operations beginning in 1950, and has eight divisions in B.C., Alberta, Ontario and Quebec.

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.