Worthington Industries, an industrial manufacturing company, completed the acquisition of Tempel Steel, a firm that manufactures magnetic steel products, for $255m. "On behalf of Tempel Smith's descendants and Tempel Holdings, I can say that it was difficult to part with the company. 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," Christopher Stephan, Tempel President and Chairman.