Worthington Steel Named a 2023 Supplier of the Year by General Motors

Rhea-AI Summary

Worthington Steel, Inc. (NYSE: WS) has been named a 2023 Supplier of the Year by General Motors for the third time, showcasing their commitment to customer value and innovation. With only 86 suppliers recognized out of 20,000, this award highlights their performance, innovation, and cultural alignment with GM's values.

COLUMBUS, Ohio--(BUSINESS WIRE)-- Worthington Steel, Inc. (NYSE: WS) today announced that it was named a GM Supplier of the Year winner in General Motors’ 32^nd annual Supplier of the Year awards. This is the Company’s third time achieving this distinction. It previously won recognition in 2020 and 2021 as part of Worthington Industries.

“Our employees and dedicated GM account team exemplify what it means to put our customers first. They are proactive, solution-focused and committed to finding new ways to add value every day,” said Worthington Steel president and CEO Geoff Gilmore. “We’re honored to be recognized for their efforts and look forward to our continued collaboration with GM in their pursuit to pioneer innovations that drive the world forward.”

GM recognized 86 out of its 20,000 suppliers for performance in the 2023 calendar year. The annual awards highlight global suppliers that distinguish themselves based on performance, innovation and cultural alignment with GM’s values, and commitment to achieving GM’s ambitious goals.

“We’re honored to partner with these top suppliers who have made notable contributions to our transformation. Together, we’re pushing boundaries, pioneering new technologies and redefining what’s possible,” said Jeff Morrison, General Motors vice president, Global Purchasing and Supply Chain. “Their innovation and support are critical to helping us deliver the world-class vehicles our customers have come to expect.”

GM’s selection process prioritizes the customer in every aspect of supply chain decision-making. Their evaluation framework emphasizes three core values: Safety, Inclusion and Relationships. These foundational values underpin all other priorities, including Sustainability, Innovation, Execution, Resilience and Profitability. By emphasizing these values, they foster a robust, diverse, collaborative partnership ecosystem that drives mutual success for GM and its suppliers.

Worthington Steel is a supplier of flat-roll carbon steel coils to GM, used in the stamping and assembly of GM vehicles in its facilities in Indiana, Michigan, Ohio and Mexico.

About Worthington Steel

Worthington Steel (NYSE:WS) is a metals processor that partners with customers to deliver highly technical and customized solutions. Worthington Steel’s expertise in carbon flat-roll steel processing, electrical steel laminations and tailor welded solutions are driving steel toward a more sustainable future.

As one of the most trusted metals processors in North America, Worthington Steel and its 4,600 employees harness the power of steel to advance our customers’ visions through value-added processing capabilities including galvanizing, pickling, configured blanking, specialty cold reduction, lightweighting and electrical lamination. Headquartered in Columbus, Ohio, Worthington Steel operates 32 facilities in seven states and six countries. Following a people-first Philosophy, commitment to sustainability and proven business system, Worthington Steel’s purpose is to generate positive returns by providing trusted and innovative solutions for customers, creating opportunities for employees, and strengthening its communities.

About General Motors

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.

Safe Harbor Statement

Worthington Steel wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995 (the “Act"). Statements by Worthington Steel 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, uncertainties and impacts described from time to time in Worthington Steel’s filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240422742322/en/

Melissa Dykstra

Vice President, Corporate Communications and Investor Relations

Phone: 614-840-4144

Melissa.Dykstra@worthingtonsteel.com

Source: Worthington Steel, Inc.

FAQ

How many times has Worthington Steel been named a GM Supplier of the Year?

Worthington Steel has been named a GM Supplier of the Year winner for the third time, previously winning in 2020 and 2021.

What are the core values emphasized by GM in their supplier selection process?

GM's supplier selection process prioritizes Safety, Inclusion, and Relationships as core values, with a focus on Sustainability, Innovation, Execution, Resilience, and Profitability.

What type of steel does Worthington Steel supply to GM?

Worthington Steel supplies flat-roll carbon steel coils to GM, which are used in the stamping and assembly of GM vehicles in various facilities.