OmniSource, Cohen Bros. Team Up for Worthington Venture

OmniSource Corp., Fort Wayne, Ind., and Cohen Brothers Inc., Middletown, Ohio, have formed a joint venture to provide scrap management services for Worthington Industries Inc., Columbus, Ohio.

Worthington is a $2 billion metals company with facilities throughout North America. The new OmniSource-Cohen Brothers joint venture, known as Industrial Scrap Consulting LLC, will be responsible for managing and marketing scrap generated by Worthington Steel facilities throughout the U.S. and Canada.

“The new venture represents a unique approach to scrap management,” says OmniSource president Danny Rifkin. “We are confident that Worthington will realize substantial value from a comprehensive, centrally coordinated scrap program.”

Ken Cohen of Cohen Brothers says, “This opportunity to join with OmniSource in servicing all of Worthington Steel’s scrap service needs is another step forward in our philosophy of providing a broad range of ‘value-added’ services to our customers.”

Worthington Industries has more than 7,500 employees operating from nearly 60 facilities in 10 countries. The company coats, anneals, plates and slits steel, as well as making products from steel such as stampings, pressure cylinders and laser welded blanks.

OmniSource Corp. is one of the nation’s largest scrap companies, with 1,300 employees working from 33 facilities in North America.

Cohen Brothers Inc. is a 78-year-old company with more than 200 employees working from seven locations in Ohio and Indiana.