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INDUSTRIAL | Manufacturing / Industrial Equipment & Component Manufacturing
tempel.com

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Stage

Acquired | Acquired

Valuation

$0000 

About Tempel

Tempel manufactures precision magnetic steel laminations for the motor, generator, auto, and transformer industries. It is based in Chicago, Illinois.On November 1st, 2021, Tempel was acquired by Worthington Industries at a valuation of $255M.

Tempel Headquarter Location

5500 N. Wolcott Ave

Chicago, Illinois, 60640,

United States

Latest Tempel News

Sale Of Tempel Steel Company To Worthington Industries Closes

Dec 8, 2021

Sale Of Tempel Steel Company To Worthington Industries Closes CHICAGO, Dec. 8, 2021 /PRNewswire/ -- The sale of Tempel Steel Company to Worthington Industries closed on Dec. Author: CHICAGO, Dec. 8, 2021 /PRNewswire/ -- The sale of Tempel Steel Company to Worthington Industries closed on Dec. 1, Tempel Holdings Inc. announced. Worthington Industries purchased Tempel Steel Company for a base purchase price, as defined in the agreement, of $295 million, reduced by approximately $40 million of liabilities which were assumed by the buyer. "There are great synergies between these two organizations," said Christopher Stephan, president and chairman of Tempel Holdings Inc. "Tempel Steel Company will add its advanced motor and transformer lamination manufacturing techniques and expertise to Worthington Industries' robust portfolio of industrial manufacturing capabilities." Headquartered in Chicago, Tempel Steel Company is one of the world's leading manufacturers of precision motor and transformer laminations. It was founded in 1945 by Tempel Smith. Today, it has 1,500 employees and manufacturing facilities in Canada, China, India and Mexico, in addition to its facility in Chicago. "On behalf of Tempel Smith's descendants and Tempel Holdings Inc., I can say that it was difficult to part with the company," Stephan said. "However, we are optimistic about the future of Tempel Steel Company as part of Worthington Industries. We are confident that Worthington will respect and preserve Tempel's rich legacy while fueling its next stage of innovation and growth." For more information about Tempel Steel Company, visit www.tempel.com . For more information about Worthington Industries, visit www.worthingtonindustries.com . View original content: https://www.prnewswire.com/news-releases/sale-of-tempel-steel-company-to-worthington-industries-closes-301440748.html

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Tempel Patents

Tempel has filed 10 patents.

The 3 most popular patent topics include:

  • Engine technology
  • Hotel chains
  • Locks (security device)
patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/20/2020

1/11/2022

Hotel chains, Metal forming, Metalworking, Engine technology, Locks (security device)

Grant

Application Date

10/20/2020

Grant Date

1/11/2022

Title

Related Topics

Hotel chains, Metal forming, Metalworking, Engine technology, Locks (security device)

Status

Grant

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