Worthington Steel, Inc. (NYSE: WS) has issued a statement regarding the upcoming extraordinary general meeting (EGM) of its partner, Klöckner & Co SE (Kloeckner). The EGM is scheduled to take place on Friday, Oct. 23, 2026, in Düsseldorf, Germany.
The primary agenda item for the meeting is the vote on the implementation of a Domination and Profit and Loss Transfer Agreement (DPLTA). Worthington Steel clarified that should the vote fail to achieve the required 75% majority of the capital represented, the company will not pursue another vote on the implementation of the DPLTA for at least one year from the date of the upcoming EGM.
The DPLTA was entered into by Worthington Steel and Kloeckner on September 8, 2026. The agreement remains subject to approval by Kloeckner shareholders and registration with the competent commercial register before it becomes effective. Until the DPLTA becomes effective, Kloeckner continues to operate independently.
Worthington Steel describes itself as one of North America’s leading value-added metals processing and manufacturing companies. The company employs approximately 12,000 people and operates approximately 150 facilities, primarily in North America, with additional operations in Europe and Asia. The press release notes that the employee and facility counts reflect the expected combined organization following the DPLTA becoming effective.
