MT - Worthington Steel JV TWB company signs licensing deal with ArcelorMittal Tailored Blanks
2024-03-14 03:32:00 ET
- Worthington Steel ( NYSE: WS ) Wednesday post market announced that its tailor welded blanking joint venture, TWB Company, has signed a licensing agreement with ArcelorMittal ( MT ) Tailored Blanks for use of its patented ablation technology in the production of hot formed tailored blanks.
- This technology expands TWB’s hot formed tailored blanking capabilities in North America. Along with this agreement, TWB plans to install a fully automated ablation line at its Monroe, Michigan, facility.
- “We’re excited to be one of two companies in North America to offer ablation technology and hot formed tailored blanks to our customers,” said Worthington Steel president and CEO Geoff Gilmore.
- “As more of our customers embrace this technology and the market continues to grow, we look forward to investing and supporting our customers’ efforts in this area,” said TWB Company president Ivan Meltzer.
- TWB plans to install the new fully automated ablation line in its flagship facility in Monroe, Michigan.
- Source: Press Release