Worthington Steel, Inc.
For the period ended May 31, 2025. Filed Jul 29, 2025.
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FY2025 · Filed Jul 29, 2025
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Item 2. Properties
Our principal corporate offices are located in two adjacent leased buildings in Columbus, Ohio. During fiscal 2025, we purchased a building in Columbus, Ohio, which will serve as a new corporate headquarters. We will move into the building when renovations are completed, which is expected during fiscal 2027. We lease space from the Former Parent in Columbus, Ohio used for administrative, metallurgical services and warehousing purposes. Additionally, we own warehouse space in Pennsylvania and South Carolina, and lease warehouse space in California and Pennsylvania.
At May 31, 2025, including our consolidated and unconsolidated joint ventures, we owned or leased more than 6.4 million square feet of space for our manufacturing facilities. More details on these facilities are contained in the table below. We believe these facilities are well maintained and in good operating condition and are sufficient to meet our current needs. The table below excludes our strategic investment in Canada given the construction is still in progress at this location.
Wholly-owned and Consolidated Joint Ventures
| Entity | Type | Location | Number of facilities | Leased | Owned |
|---|---|---|---|---|---|
| Worthington Steel (1) | Manufacturing | OH (5), IL, IN, KY, MI, NYCanada, China, Germany, India, Mexico | 15 | 2 | 13 |
| TWB | Manufacturing | OH (2), MI (2), TN (2), KYMexico (3), Canada | 11 | 10 | 1 |
| WSCP (2) | Manufacturing | OH | 1 | – | 1 |
| Spartan | Manufacturing | MI | 1 | – | 1 |
| Total | 28 | 12 | 16 | ||
(1)
Facility information is as of May 31, 2025, and does not include the acquisition activity subsequent to year end.
(2)
One facility in Cleveland, Ohio is excluded from the table because it is idled with manufacturing operations ceased.
Unconsolidated Joint Venture
| JointVenture | Type | Location | Number of facilities | Leased | Owned |
|---|---|---|---|---|---|
| Serviacero Worthington | Manufacturing | Mexico (3) | 3 | – | 3 |
| Total | 3 | – | 3 | ||
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